Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/AUD bears set to regain control after Tuesday's failure

• GBP/AUD declined on Wednesday  as dovish comments by Bank of England Governor Andrew Bailey dragged  GBP lower against stronger Australian dollar.

•  Bank of England Governor Andrew Bailey said nothing had been decided in terms of whether interest rates would need to rise again.

• At GMT 17:24, the pair was trading 0.44% lower at 1.7778, lowest since 27th February. 

• GBP/AUD probed support  at 1.7729 (50%fib)  , Break lower risks run towards 1.7650 level.

• Immediate resistance is located at 1.7952 ( 38.2%fib), any close above will push the pair towards 1.8032 (Feb 28th high).

• Strong support is seen at 1.7729 (50%fib) and break below could take the pair towards 1.7641 (11 DMA).

Recommendation: Good to sell below 1.7790, with stop loss of 1.7860 and target price of 1.7680

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.