GBP/AUD 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Pound/Aussie cross is trading to the upside since September 8. Even though the trading range is rather narrow, the pair is steadily moving inside boundaries of the channel up. Recently the Pound bounced from the lower trend-line and is heading towards the upper boundary of the pattern, hovering around the 1.8412 level right now. While technical indicators are generally suggesting a continuation of the upward movement in the long-term, the Stochastic, in particular, assumes the pair is overbought for the time being. Market participants are mostly undecided on pair perspectives, as bullish and bearish positions are almost equally divided at the moment.
© Dukascopy Bank SA
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