Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/AUD intraday upside momentum strong after upbeat UK employment data

• GBP/AUD extended its yesterday’s bounce  as UK strong jobs data boosted sterling across the board .

• Data published on Tuesday showed Britain's unemployment rate dropped below its pre-pandemic low in the three months to January while pay rose faster than expected.

• Technical signals are bullish as RSI is rising sharply from below, daily momentum studies  5,9 and 11 DMA’s are trending up. 

• Immediate resistance is located at 1.8180 ( Daily high), any close above will push the pair towards 1.8223 ( 23.6%fib).

• Strong support is seen at 1.8121 (38.2%fib) and break below could take the pair towards 1.8035 (50%fib).

 Recommendation: Good to buy around 1.8150, with stop loss of 1.8040 and target price of 1.8250

  • Market Data
Close

Welcome to EconoTimes

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