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GBP/AUD 4H Chart: Tests monthly S1

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralBuyNeutral
Stochastic(5;3;3)NeutralNeutralBuy
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)SellSellSell
Aggregate⇘⇘⇘

[ANNOUNCE]The British Pound declined by 467 pips or 2.52% against the Australian Dollar during last week's trading sessions. The decline was stopped by the monthly S1 at 1.8127 last week. [/ANNOUNCE]

Currently, the currency pair is trading near the monthly support level at the 1.8127 area.

If the monthly S1 holds, a breakout through the upper boundary of a descending channel pattern could occur within this week.

However, if the exchange rate breaks the monthly support line, bearish traders would continue to dominate the GBP/AUD currency exchange rate during the following trading sessions.

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