GBP/AUD 1H Chart: Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
A retreat of GBP/AUD that started in the beginning of October took the pair to almost a three-month low reached shortly after the currency pair entered a triangle pattern.
At the moment, the pair is trading right near the triangle apex, suggesting that the breakout will appear before long. The SWFX data reveals that market participants mostly (63.16% are short on the pair) expect the pair to take southern direction after it leaves the pattern boundaries. Meanwhile, technical indicators are neutral in short-term and send bullish signals for medium and long terms.
© Dukascopy Bank SA
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