GBP/AUD 4H Chart: Weekly buy signals - Trade Pattern Ideas - Dukascopy Bank

Tue, 15 Oct 2019 05:31:08 GMT
Source: Dukascopy Bank SA
 
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralSellNeutral
Alligator(13;8;5)BuyBuyNeutral
SAR(0.02;0.2)BuyBuyBuy
Aggregate

The British Pound has been appreciating in an ascending channel pattern against the Australian Dollar since the end of July. The currency pair surged by 3.13% in value during last week's trading sessions.

The exchange rate is currently trading near the upper boundary of the ascending channel pattern at 1.8620 and could be set for a breakout.

If the breakout occurs, a surge towards the resistance level at 1.9072 could follow during the following trading sessions.

However, a resistance cluster formed by the weekly and the monthly PPs at 1.8875 could hinder such bullish move.


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