Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro:GBP/AUD pushes recovery envelope from 1.8720 level

• GBP/ AUD strengthened on Wednesday as the pair was supported by  hawkish comments by  BoE Governor Andrew Bailey.

• Bailey said that if price pressures were to be more persistent, further tightening of policy may be required.

• A rally towards 1.8900 is   possible if  GBP/ AUD bulls overcome resistance at 23.6%fib.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 56,while moving averages and MACD are trending higher.

• Immediate resistance is located at 1.8838( 23.6%fib), any close above will push the pair towards 1.8948(Higher BB).

• Immediate support is seen at 1.8727 (5DMA) and break below could take the pair towards 1.8561(38.2%fib).

Recommendation: Good to buy around 1.8740, with stop loss of 1.8680 and target price of 1.8900

  • Market Data
Close

Welcome to EconoTimes

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