GBP/AUD 4H Chart: Decline likely to continue

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Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)BuyNeutralNeutral
Stochastic(5;3;3)BuyBuyBuy
Alligator(13;8;5)SellSellBuy
SAR(0.02;0.2)SellSellSell
Aggregate⇒⇘⇗

[ANNOUNCE]The British Pound has declined by 6.69% against the Australian Dollar since the beginning of April. A breakout occurred through the lower boundary of an ascending channel pattern during last week's trading sessions. [/ANNOUNCE]

Technical indicators flash sell signals on both the 4(H) and the daily time-frame charts. Therefore, bearish traders could continue to pressure the currency pair lower during the following trading sessions.

However, a support level formed by the weekly S1 at 1.9196 could provide support for the GBP/AUD currency exchange rate in the short-term.

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