Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/AUD uptrend losses momentum but bullish setup remains

• GBP/AUD retreated  on Thursday    after comments from the BoE's Chief Economist   triggered slight  decline in the pair.

• Bank of England (BoE) policymaker  Chief Economist Huw Pill, reiterated policy will need to remain restrictive for some time.  

• At GMT 17:24, the pair was trading down 0.28 percent  at 1.9131 afterhiting  daily high at 1.9208.

• Technical signals are mixed  as RSI is  flat   , daily momentum studies  5, 9 and 11 DMAs are trending up. 

• Immediate resistance is located at 1.9216 (38.2%fib ), any close above will push the pair towards 1.9264 (100DMA).

• Strong support is seen at 1.9084 (50%fib) and break below could take the pair towards 1.9044(Nov 8th low).

Recommendation: Good to buy  on  around 1.9110, with stop loss of 1.9050 and target price of 1.9180
 

  • Market Data
Close

Welcome to EconoTimes

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