Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/AUD neutral in the near-term, scope for downward resumption

• GBP /AUD strengthened on Wednesday  as the pair was buoyed by rebounding risk appetite, but the remained vulnerable near recent trend low.

• GBP /AUD remains only marginally above  2022 low at 1.7722, hinting that bears are reluctant to reverse recent weakness.

• The pair hit daily high at 1.8046 and was last trading at 1.8011.

• Technical signals show the pair could lose more ground in the short-term as RSI is at 53 bullish, and lower bollinger band is turning up. 

• Immediate resistance is located at 1.8024 (38.2% fib), any close above will push the pair towards 1.8127 (50% fib).

• Immediate support is seen at 1.7889 (23.6% fib) and break below could take the pair towards 1.7765 (Lower BB).

Recommendation: Good to sell  around 1.8006, with stop loss of 1.8140 and target price of 1.7750.

  • Market Data
Close

Welcome to EconoTimes

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