Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/AUD positions for another climb, eyes 2.0500level


• GBP/AUD steadied  on Wednesday  as investors focus turned to BoE rate verdicts on horizon.

• The Bank of England is also expected to stand pat on Thursday,  to discussions between dovish and hawkish policymakers for clues on future rate cuts.

• Markets have priced in at least two rate cuts from both the BoE and the Fed this year, as investors grapple with the possible economic impact of escalating trade wars.
 
• Technical are bullish, daily RSI is  up at 60 , daily momentum studies  9 and 10 DMAs are trending north. 

• Immediate resistance is located at 2.0508 (Daily high ), any close above will push the pair towards 2.600 (Higher BB).

• Strong support is seen at 2.0364(38.2%fib ), and break below could take the pair towards 2.0257(Daily low low).

Recommendation: Good to buy  around 2.0380 with stop loss of 2.0200 and target price of 2.0500

  • Market Data
Close

Welcome to EconoTimes

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