Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/AUD range-bound but retains bullish bias

• GBP /AUD initially gained but gave up ground on Tuesday as investors adjusted their positions ahead of the holiday season.

• On Tuesday, the GBP /AUD session range moved between 2.0163 and 2.0049.

•With limited UK economic data scheduled for release and few Bank of England (BOE) speakers next week, year-end flows are expected to dominate market movements..

• Immediate resistance is located at 2.0189 (23.6%fib), any close above will push the pair towards 2.0308(Higher BB).

• Immediate support is seen at 2.0012 (38.2%fib) and break below could take the pair towards 1.9861(50%fib).

Recommendation: Good to buy around 2.0050, with stop loss of 1.9950 and target price of 2.0120

  • Market Data
Close

Welcome to EconoTimes

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