GBP/AUD 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Pound is poised to become one of the main gainers this year, however, the GBP/AUD currency pair has formed a 172-hour long channel down pattern. Since the beginning of this year the Sterling was steadily depreciating against the Aussie. The pattern requires one more confirmation point to become a reliable one, and therefore, the price is supposed to reach pattern's resistance in the nearest future. Moreover, this idea is supported by aggregate technical indicators on a 4H chart. Traders, however, are opening short positions in 63% of the time, while 75% of pending orders in a 100-pip range are placed to buy the pair, also pointing at pair's appreciation.
© Dukascopy Bank SA
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