Technical Analysis
The primary trend of
GBP/AUD is bearish on charts and price is trading below the trend
line in its hourly chart. In hourly chart the price is sustaining
below 200 day SMA and is taking resistance of 50 day SMA indicating
downtrend of the pair. It is having an important resistance at the
level of 1.9105 and support at the level of 0.8885. If it breaks its
support level on the downside and sustains below it then we can
expect it to show further bearish movement in the pair.
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| GBP/AUD |
Market Indicators
MACD is sustaining in
its negative territory indicating the bearish trend in the pair.
RSI is sustaining in
its selling zone indicating the upcoming bearish trend in the pair.
Trading Strategy
GBP/AUD is
looking bullish on charts for next few trading session. One can go
for sell on higher level strategy for this pair for intra day to mid
term positions in it.
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