FxWirePro Currency Strength Index for GBP/AUD: Bias Bearish
FxWirePro's Hourly GBP Spot Index was at -107.373 (Bearish)
FxWirePro's Hourly AUD Spot Index was at 120.261 (Bullish)
Technical Analysis: Bias Bearish
- RSI and Stochs have rolled over from near overbought levels
- RSI has fallen below 50 levels and momentum studies are bearish
- Price has broken below 21-EMA support at 1.8248
- +ve DMI crossover on -ve DMI
Support levels - 1.8148 (4H 200-SMA), 1.81, 1.8024 (55-EMA)
Resistance levels - 1.8248 (21-EMA), 1.8320 (5-DMA), 1.8475 (April 17 high)
Recommendation: Good to go short on rallies around 1.8220/30, SL: 1.83, TP: 1.8150/ 1.81/ 1.8024.
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