Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro:GBP/ AUD uptrend loses steam but outlook still bullish

• GBP/AUD retreated from daily high on Wednesday as the pair rise faded amid diminishing BoE rate hike expectations.

• Soft UK data and central bank rhetoric has shifted BoE policy expectations to more-dovish BoE rate expectations.

• GBP/ AUD traders around 1.9460,consolidation likely to continue while market seeks fresh factors.
 
•  Immediate resistance is located at 1.9485 (38.2%fib), any close above will push the pair towards 1.9540(Oct 23rd high).

•  Support is seen at 1.9486(5SMA) and break below could take the pair towards 1.9422 (50%fib).

 Recommendation: Good to buy around 1.9450, with stop loss of 1.9400 and target price of 1.9550
 

  • Market Data
Close

Welcome to EconoTimes

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