GBP/AUD sets for breakout

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

[ANNOUNCE]The British Pound has edged higher by 1.53% against the Australian Dollar since September 5. The currency pair breached the 50– period simple moving average on September 9.[/ANNOUNCE]

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

If the breakout occurs, a surge towards the 1.9100 level could be expected during the following trading sessions. 

However, if the channel pattern holds, bearish traders might pressure the GBP/AUD currency exchange rate lower this week.

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