GBP/AUD 4H Chart: Awaits Brexit agreement vote

Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)NeutralBuyBuy
SAR(0.02;0.2)BuySellBuy
Aggregate

The Pound Sterling has depreciated about 2.31% in value against the Australian Dollar since Tuesday last week. The currency pair reached February 8 support level at 1.8339 during last week's trading session.

Everything being equal, it is likely that the GBP/AUD exchange rate will continue its decline during the following trading sessions. The potential downside target will be near a support cluster at 1.8151.

However, taking into considerations the political event that is happening in the United Kingdom, the technical analysis might not support the descriptions as mentioned above.

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