GBP/AUD 4H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
The outlook for the Sterling is bullish, both from the perspective of technical and fundamental analysis. Therefore, all GBP-crosses can soon reach important resistance levels. A slight majority of Dukascopy traders are expecting the pair to appreciate, while technicals on a daily chart are pointing at pairs appreciation. There are two key levels for the long traders, located at 1.8211 and 1.8261. At the same time, after a touch of the upper trend line, the pair will most likely continue depreciating, as indicators on a weekly chart are sending 'sell' signals. Additionally, 60% of all pending orders placed to sell the single currency versus the Aussie.
© Dukascopy Bank SA
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