GBP/AUD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
A decline of the British Pound against the Australian Dollar is likely to strengthen, as soon the GBP/AUD pair violates one of the nearest supports represented by the weekly pivot point at 2.0325. If this is the case, the cross will be expected to reach the pattern's lower trend-line in the short-term, which in turn is placed at 2.0264. At the same time, technical indicators on the medium-term time-frame see the pair higher, meaning that problems for bears will probably arise around the mentioned demand at 2.0325. On the other hand, SWFX market participants assume the Sterling will accomplish the goal of reaching the lower boundary, as 72% of them are holding short open positions on the pair.
© Dukascopy Bank SA
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