GBP/AUD 4H Chart: Breaches medium-term channel

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

The Pound Sterling has been depreciating against the Australian Dollar since the currency pair reversed from the upper boundary of a descending channel pattern at 1.8850 on March 14.

The exchange rate breached the lower boundary of a medium-term ascending channel pattern at 1.8344 during yesterday's trading session.

From a theoretical point of view, it is likely that the currency exchange rate continues its downward journey within this session.

The potential downside targets for bearish traders will be near a support cluster formed by the combination of the weekly and the monthly PPs at 1.8214 in the shorter term.

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