Recent price action suggests that GBPAUD has witnessed a significant swing low at 1.72 and for price to now move on to make new highs. The strong rejection of the 1.72 swing low appears to be a 'V-Bottom' and is normally associated with significant lows on stock markets (such as the GFC lows on Global stocks, or the Wall Street Crash on Dow Jones in 1929.) This also coincides with the 38.2% fibonacci retracement from the March '13 low to Jan '14 high. If the correction is complete then we have to assume a resumption of the bullish trend and to break to new highs above 1.912, to target 2. Price is now approaching the ... (full story)