GBP/AUD decline likely to continue

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

[ANNOUNCE]The British Pound has declined by 1.82% against the Australian Dollar since October 18. The 50– period simple moving average has continued to pressure the currency pair lower since the middle of September.[/ANNOUNCE]

Technical indicators suggest selling signals on the 4H and daily time-frame charts. Most likely, sellers may continue to pressure the exchange rate lower during the following trading sessions.

However, the support level at 1.8250 could provide support for the GBP/AUD currency exchange rate in the shorter term.

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