GBP/AUD 4H Chart: Breakout likely to occur

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuySellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralBuy
Alligator(13;8;5)NeutralSellNeutral
SAR(0.02;0.2)SellBuySell
Aggregate

The British Pound appreciated about 1.08% in value against the Australian Dollar during last week's trading sessions. The currency pair tested the upper boundary of a descending channel pattern at 1.8380.

As for the near future, it is likely that the GBP/AUD exchange rate will continue its upward swing. A potential breakout through the upper boundary of the descending channel pattern during the following trading sessions.

If this breakout occurs, a surge towards a resistance level formed by the weekly R2 at 1.8513 could follow in the short-term.

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