GBP/AUD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The bullish momentum of the British Pound appears to be running out of steam, as the latest wave failed to reach out to the upper line of the emerging channel. The main reason to be bearish in the medium term, however, is the fact that the pair is closing in on the major resistance between 2.11 and 2.12, represented by the upper boundary of the descending channel in the daily chart. Accordingly, while there is a good chance of GBP/AUD rising during the next several days, the downside risks are substantial, and there might soon be a break-out through 2.0820. In this case the first important target will be at 2.0662, followed by the 200-hour SMA at 2.0520.
© Dukascopy Bank SA
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Mon, 11 Jan 2016 08:26:06 GMT

GBP/AUD 1D Chart: Channel Down

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Mon, 11 Jan 2016 07:46:04 GMT

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