GBP/AUD 4H Chart: Possible breakout - Trade Pattern Ideas - Dukascopy Bank
Mon, 10 Dec 2018 07:05:23 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD (12; 26; 9)
Buy
Sell
Sell
RSI (14)
Neutral
Neutral
Neutral
Stochastic (5; 3)
Neutral
Sell
Buy
Alligator (13; 8; 5)
Buy
Neutral
Sell
SAR (0.02; 0.2)
Sell
Buy
Sell
Aggregate
⇒
⇒
⇘
The Pound Sterling reversed from the lower boundary of a dominant ascending channel at 1.7200 on December 3 and started gaining strength against the Australian Dollar.
The currency pair was trading near the upper border of a medium-term descending channel pattern at 1.7700 during the morning hours of Monday's trading session.
If the exchange rate breaks the descending channel pattern, it will aim at a resistance cluster formed by the weekly and the monthly PPs near the 1.7892 regions.
However, it is important to note that the political situation in the United Kingdom might play a significant roll in the positioning of the currency exchange rate during this week trading sessions.
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