Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/AUD uptrend gains momentum but hurdles ahead

• GBP/AUD strengthened on Tuesday  as bids may emerge around as 1.9072 traders looked ahead to the Bank of England's policy announcement on Thursday..

• Britain's central bank is expected to keep interest rates unchanged at a 15-year high of 5.25% when it announces policy this week.

• A daily close above 38.2%fib will further improve the technical outlook, and open the possibility of a rally towards 1.9240 level. 

• Technical signals are bullish as RSI is at 54, daily momentum studies  5,9,21 DMA are trending north. 

• Immediate resistance is located at 1.9208 (38.2%fib), any close above will push the pair towards 1.9262(Oct 26th high).

• Strong support is seen at 1.9072(50%fib) and break below could take the pair towards 1.9012(Oct 25th low).

Recommendation: Good to buy around 1.9150 with stop loss of 1.9050 and target price of 1.9240

  • Market Data
Close

Welcome to EconoTimes

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