GBP/AUD 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
It seems that the GBP/AUD currency pair is losing the chances of a rebound. The cross has been hovering near the lower trend-line of the bearish pattern since Tuesday morning and risks are skewed to the downside. Bearish scenario is shared by one-hour technical indicators at the moment. On the other hand, the majority of SWFX traders (56%) are holding long open positions on the Sterling versus the Aussie. Moreover, some support should be provided by daily S1 at 2.1188 on Wednesday, while the next demand area is placed at 2.1110/17. A decline below all of these levels will most likely trigger additional losses down to the weekly S3 at 2.0841.
© Dukascopy Bank SA
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