GBP/AUD 4H Chart: Decline likely to continue - Trade Pattern Ideas - Dukascopy Bank

Tue, 16 Jul 2019 06:10:12 GMT
Source: Dukascopy Bank SA
 
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)BuyBuyNeutral
Stochastic(5;3;3)BuyBuyBuy
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)SellSellSell
Aggregate

The British Pound depreciated about 1.40% in value against the Australian Dollar during last week's trading sessions. The currency pair was pressured south by the 50-hour simple moving average.

Most likely, the exchange rate could continue its southern movement until it reaches a support level at 1.7650.

If the support line holds, a potential upside reversal might occur during the following trading sessions.

Meanwhile, technical indicators demonstrate that the currency exchange rate will continue to edge lower in the short-term.


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