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

| Technicals

Become a contributor

Bookmark Econotimes

| Technicals

FxWirePro: GBP/AUD gains some upside momentum but still bearish

FxWirePro- EURUSD Daily Outlook

FxWirePro: GBP/AUD attracts selling interest, vulnerable to more downside

FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch (GBPJPY) for the day)

FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch (EURJPY) for the day)

FxWirePro: EUR/NZD sinks towards a sensitive level, good to sell on rally

FxWirePro- GBPJPY Daily Outlook

FxWirePro- Top altcoins for the day (Strength index) (HNTUSD)

FxWirePro-Major pair levels and bias summary

FxWirePro: GBP/NZD drops towards 2.0500, bears keep the advantage

FxWirePro- Gold Daily Outlook

FxWirePro: GBP/AUD downside pressure builds, key support level in focus

FxWirePro- Gold Daily Outlook

FxWirePro: GBP/NZD extends drop, faces 23.6%fib support

FxWirePro- EURUSD Daily Outlook

FxWirePro: EUR/AUD heads deeper into bear territory, bears plotting path toward 1.6400 level

FxWirePro- Top altcoins for the day (Strength index) (FTTUSD)

©Econometrics LLC . All Rights Reserved.

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

Wednesday, August 3, 2022 10:32 PM UTC

• GBP/AUD initially dipped on Wednesday but recovered some ground as investor focus turned to the Bank of England policy announcement on Thursday.

• Money markets are currently pricing in a greater than 90% chance of an outsized 50 basis point rate hike at Thursday's meeting

• GBP/AUD remains bullish, only a break and daily close above 1.7381 (61.8% fib) will shift bias to the downside.

• Technical are bullish, daily RSI is negative at 52, daily momentum studies 9 and 10 DMAs are trending up.

• Immediate resistance is located at 1.7513 (38.2% fib), any close above will push the pair towards 1.7563 (100DMA).

• Strong support is seen at 1.7443 (50% fib) and break below could take the pair towards 1.7404(14DMA).

Recommendation: Good to buy around 1.7480, with stop loss of 1.7380 and target price of 1.7560

Editor's Picks

Breathing through your nose when you exercise may make your runs easier

Entrepreneurs are facing a mental health crisis — here's how to help them

Are fish oil supplements as healthy as we think? And is eating fish better?

Will AI kill our creativity? It could – if we don’t start to value and protect the traits that make us human

Does AI have a right to free speech? Only if it supports our right to free thought

How can I lower my cholesterol? Do supplements work? How about psyllium or probiotics?

Why we need to set limits on sperm donation

Aging with a healthy brain: How lifestyle changes could help prevent up to 40% of dementia cases

Seven techniques to avoid weight regain, approved by experts

Market Data

FxWirePro: GBP/AUD gains some upside momentum but still bearish

COP28: 7 food and agriculture innovations needed to protect the climate and feed a rapidly growing world

McDonald's Unveils CosMc's Menu Accidentally; Becomes Starbucks' New Rival

FxWirePro: GBP/NZD claws back some ground but trend is lower still

McDonald's Seeks Supreme Court Ruling on No-Poach Employee Clauses

Social media ads are littered with ‘green’ claims. How are we supposed to know they're true?

FxWirePro:EUR/NZD struggle to extend its recovery,good to sell on rally

FxWirePro:EUR/AUD steadies around 1.6370 ahead of RBA policy meeting

UK's Ofcom Introduces Stricter Online Age Checks for Explicit Content

EconoTimes

Disclaimer: EconoTimes provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect's individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and EconoTimes specifically advises clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Brokerage. Any news, opinions, research, data, or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. EconoTimes expressly disclaims any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on such information. As with all such advisory services, past results are never a guarantee of future results.

Editor's Picks

Welcome to EconoTimes