GBP/AUD Broke Out above 1.8000

After a long period of sideways consolidation that has lasted since the beginning of February this year GBP/AUD finally broke out to the upside above the resistance at 1.8000. That breakout came after the pair formed an inverted hammer candlestick on the weekly time-frame at 1.7900 last week. The question is, of course, now that there has been a breakout and the consolidation is over, how high will the pair move to the upside? The closest target is, obviously, 1.8100. A breakout above that level could lead to a further move to the upside towards the resistance at 1.8260, which coincides with the (MA)89 indicator on the monthly time-frame.