GBP/AUD 4H Chart: Expected to make brief retracement - Trade Pattern Ideas - Dukascopy Bank
Tue, 29 Jan 2019 06:57:03 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD (12; 26; 9)
Buy
Buy
Buy
RSI (14)
Neutral
Neutral
Neutral
Stochastic (5; 3)
Neutral
Neutral
Neutral
Alligator (13; 8; 5)
Buy
Buy
Buy
SAR (0.02; 0.2)
Sell
Buy
Buy
Aggregate
⇒
⇗
⇗
The British Pound has been appreciating against the Australian Dollar since the middle of January. The exchange rate has gained about 4.96% of its values since January 15.
However, after hitting the upper boundary of an ascending channel pattern at 1.8522, the currency pair made a U-turn south.
It is likely that the GBP/AUD currency exchange rate edges lower towards a support level at 1.8029 during the following sessions.
Although a support cluster formed by the weekly pivot point and the 50-hour simple moving average near the 1.8186 area could protect the price from falling.
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