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FxWirePro:GBP/AUD indecision within ranges,watch for the breakout

Monday, June 14, 2021 3:29 PM UTC

• GBP/AUD edged lower on Monday as traders awaited England reopening delay news.

• UK PM Johnson set to announce delay to end of COVID restrictions in England at a news conference later at 17:00 GMT.

• The pair is approaching 50% retracement at 1.8243, a daily close below will accelerate downtrend towards 1.8200 .

• Immediate resistance is located at 1.8341( 38.2%fib), any close above will push the pair towards 1.8386 ( 23.6 % fib).

• Strong support is seen at 1.8243 (50% fib ) and break below could take the pair towards 1.8195 (30DMA).

Recommendation: Good to sell around 1.8280, with stop loss of 1.8350 and target price of 1.8200.

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FxWirePro:GBP/AUD indecision within ranges,watch for the breakout

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