GBP/AUD 1H Chart: Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Since November 5, GBP/AUD has been trapped by two gradually converging upward sloping lines; the pair was not able to surpass the upper limit nor was it willing to dive below the lower boundary of this rising wedge pattern during last 97 hours. At the moment of writing, the currency couple is approaching a one-month high lying at the pattern's resistance. Market sentiment is moderately bullish, with 56.25% of traders betting on appreciation of GBP/AUD. If traders' outlook comes true, the pair may near a one-month high and may even try to breach the pattern's resistance that if overcome will result in on-going strength of the pair.
© Dukascopy Bank SA
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