GBP/AUD 4H Chart: Bearish sentiment likely to continue

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

The Pound Sterling has continued its decline against the Australian Dollar. The GBP/AUD exchange rate has lost over 500 base points of its values during the last week.

The currency pair breached both the 100– and 200-hour simple moving averages during the Asian session on Tuesday.

By and large, it is likely that the currency exchange rate continues its movement down until the pair reaches a support cluster at 1.7852.

A potential upside reversal could occur from the support cluster as mentioned earlier.

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