GBP/AUD 1D Chart: Channel Up

According to the upward-sloping pattern, in the nearest future the exchange rate is highly unlikely to fall beneath the up-trend support line at 1.8321, which is reinforced by the monthly S1 level. Instead, the price is expected to leave the vicinity of 1.84 and head towards the upper boundary of the corridor, which is currently in the region of 1.98. The bullish bias is also shared by a majority of the SWFX market participants—66% of open positions are long.