FxWirePro: GBP/CHF dives over 0.50%, pound weighed down by possibility of a extended lockdown and dismal UK macro data
FxWirePro: AUD/USD hits weekly high at 0.7777, Aussie buoyed on upbeat employment data and broad market optimism
FxWirePro: AUD/JPY trades weaker, AUD depressed amid downbeat Australia Retail Sales and risk-off sentiment
FxWirePro:GBP/AUD dips below lower range, bearish bias increases
• GBP/AUD declined on Friday as concerns about EU-UK trade talks weighed on Pound.
• Pair reached a 1.7998 low before recovering slightly to 1.8006, as near term direction of the pair is likely to be driven by current price action.
• Technicals are bearish, daily RSI is negative at 41, daily momentum studies 9 and 10 DMAs are trending down.
• Immediate resistance is located at 1.8102 (38.2%fib ), any close above will push the pair towards 1.8152 (21 EMA).
• Strong support is seen at 1.7996 (23.6%fib) and break below could take the pair towards 1.7953 (Lower BB).
Recommendation: Good to sell on around 1.8380, with stop loss of 1.8650 and target price of 1.9250