Technicals

Add as a preferred source on Google

FxWirePro: GBP/AUD runs out of steam but maintains bullish outlook

• GBP/AUD turned lower on Friday as the attracted sellers as investors awaited the UK GDP report on Friday. • Friday's gross domestic product estimate for October will be a key economic indicator before the BoE's decisio…

1 min read
FxWirePro: GBP/AUD runs out of steam but maintains bullish outlook
Image from the original EconoTimes article

Read the original article

• GBP/AUD turned lower on Friday as the attracted sellers   as investors awaited the UK GDP report on Friday.

• Friday's gross domestic product estimate for October will be a key economic indicator before the BoE's decision. 
 
• Technical highlight upside risks for GBP/AUD, with momentum studies, 5, 10 and 21 SMAs tracking north. 

• Immediate resistance is located at 2.0023 (23.6%fib ), any close above will push the pair towards 2.0079 (Higher BB).

• Strong support is seen at 1.9870(38.2%fib ), and break below could take the pair towards 1.9748(50%fib).

Recommendation: Good to buy around 1.9900 with stop loss of 1.9820 and target price of 1.9980
 

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560