GBP/AUD May Continue Moving to the Upside

GBP/AUD found some resistance above the (MA)89 indicator at 1.7830 and bounced off from 1.7970, forming a rather impressive shooting star candlestick on the daily time-frame. That candlestick was preceded by a hanging man candlestick on the same time-frame, formed on the aforementioned indicator. If the pair breaks out back below it there will probably be a move to the downside towards 1.7650. On the other hand, if the move to the upside continues and the pair breaks out above 1.7970 it could reach 1.8000 and is likely to break out above that level too. If it does, next target will probably be around 1.8200.