Where Does It Go From Here?

The $GBPAUD finally staged a long overdue correction. Now what? Will the pair follow the AUD lower and resume its rally or will it follow the GBP lower?

GBPAUD 4HR GBPAUD DAILY

Given the Fibonacci levels on the daily chart and the diverging RSI on the 4hr chart, it looks highly probable that the pair resumes the bull trend. However, be aware of the Carney effect.

 

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