Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/AUD gains some upside momentum but still bearish

• GBP/AUD recovered some ground  on Monday but gains were limited as investors looked to what the Bank of England might signal at its next policy meeting

• The BoE will make its next policy announcement on Dec 14, with markets almost unanimously betting on no change. 

• Pair traded in   1.9043/1.8970  range ,a close below 38.2%fib, push the piar towards  1.8900 level.

• Technical signals are bearish  as RSI is at 49, daily momentum studies  5,9 and 10 DMAs are trending down.

•  Immediate resistance is located at 1.9102 ( 11DMA), any close above will push the pair towards 1.9126 (50%fib)

• Strong  support is seen at 1.9048 (38.2%fib ) and break below could take the pair towards 1.8956 23.6%fib).

Recommendation: Good to sell  around 1.9100, with stop loss of 1.9180 and target price of 1.9020

  • Market Data
Close

Welcome to EconoTimes

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