Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/AUD capped by the 38.2% fibonacci, good to sell on rally

• GBP /AUD traded up on Wednesday   as  prospects for further tightening by the BoE boosted the pound against weaker Australian dollar

• The pair hit daily high at 1.8723 and was last trading at 1.8690 .

• Technical signals are bearish as RSI is   at 44, daily momentum studies    9, 11 and 21 DMAs are trending down. 

• Immediate resistance is located at 1.8576 (5DMA), any close above will push the pair towards 1.8797 (38.2%fib)

• Immediate support is seen at 1.8576 (50%fib) and break below could take the pair towards 1.8475 (Lower BB).

Recommendation: Good to sell  around 1.8730, with stop loss of 1.8800 and target price of 1.8650.

  • Market Data
Close

Welcome to EconoTimes

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