Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/AUD sinks to two and a half month low on BoE chief's dovish steer

• GBP/AUD fell  on Thursday after Bank of England Governor Andrew Bailey hinted at faster policy easing.

• Bank of England Governor Andrew Bailey said there was a chance the central bank could move more quickly to cut interest rates if there is further good news on inflation.

• On the data front,The S&P Global UK Services Purchasing Managers Index dropped to 52.4 in September, from 53.7 in August.

• Technical are bearish, daily RSI is negative  at 46, daily momentum studies  11and 14 DMAs are trending down. 

• Immediate resistance is located at 1.9241(38.2%fib ), any close above will push the pair towards 1.9312 (Daily  high).

• Strong support is seen at 1.9121(23.6%fib) and break below could take the pair towards 1.9121 (Lower BB).

Recommendation: Good to sell around 1.9190 , with stop loss of 1.9260 and target price of 1.9130
 

  • Market Data
Close

Welcome to EconoTimes

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