GBP/AUD 1D Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
After topping out at the end of January GBP/AUD was forced to enter a bearish channel. If this is true, the British Pound should respect the resistance at 1.8109, represented by the 200-day SMA and falling trend-line, and start moving en route to 1.7280—the lower boundary of the pattern.
And while the daily and weekly technical indicators do not seem to be against such a course of events, monthly studies are strongly bullish—five out of eight are pointing upwards. In the meantime, the SWFX marker participants appear to be undecided with respect to the currency pair's future, as the open positions are equally divided between the long (52%) and short (48%) ones.
© Dukascopy Bank SA
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