GBP/AUD 4H Chart: Reveals new channel - Trade Pattern Ideas - Dukascopy Bank
Tue, 21 May 2019 04:48:17 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Buy
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Buy
Neutral
Alligator(13;8;5)
Sell
Neutral
Buy
SAR(0.02;0.2)
Sell
Sell
Buy
Aggregate
⇘
⇒
⇗
The Pound Sterling has depreciated about 312 base points against the Australian Dollar since last week trading sessions. The currency pair has revealed a new descending channel pattern.
The exchange rate was trading near a support cluster formed by the 200-hour simple moving average and the combination of the weekly and the monthly pivot points at 1.8431 during the morning hours of Tuesday's trading session.
By and large, it is likely that the GBP/AUD pair will aim for the 50– and 100-hour SMAs at 1.8569.
If the resistance level holds, a decline towards the lower boundary of a descending channel at 1.8300 could be expected.
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