mql5

GBP/AUD: bearish ranging within narrow sa/r levels for direction. This pair was reversed to the primary bearish market condition by breaking Ichimoku cloud to below in the beginning of the january this year. For now, the price is on bearish ranging within narrow support/resistance levels waiting for the rally to be started or for the bearish trend to be resumed.

• if the daily price breaks 1.6267 resistance so we may see the secondary rally within the primary bearish market condition;
• if the price breaks 1.6591 resistance so the price will be reversed from the primary bearish to the primary bullish condition with the secondary ranging;
• if the price breaks 1.5991 support level so the primary bearish trend will be resumed ranging up to the new 'bottom' to be formed;
• if not so the price will be moved within the channel.

Resistance	Support
1.6267	1.5991
1.6591	N/A