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FxWirePro: GBP/AUD Trade Idea

Monday, December 17, 2018 12:22 PM UTC

GBP/AUD chart on Trading View used for analysis

FxWirePro Currency Strength Index for GBP/AUD: Bias Bullish
FxWirePro's Hourly GBP Spot Index was at 132.788 (Bullish)
FxWirePro's Hourly AUD Spot Index was at -123.805 (Bearish)

Technical Analysis: Bias Bullish
- Holds above 5-DMA, tests 21-EMA
- Stochs and RSI are biased higher
- Bullish divergence on RSI and Stochs
- Tests 23.6% Fib, break above to see further upside

Support levels - 1.7485 (5-DMA), 1.7290 (Dec 12 low)
Resistance levels - 1.7774 (55-EMA), 1.7843 (110-EMA)

Recommendation: Stay long on decisive break above 21-EMA, target 1.77/ 1.7775

For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

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FxWirePro: GBP/AUD Trade Idea

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