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GBP/AUD 4H Chart: Tests channel pattern

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

[ANNOUNCE]The Pound Sterling has declined by 1.17% against the Australian Dollar since last week's trading sessions. The currency pair tested the bottom line of an ascending channel pattern on Tuesday morning.[/ANNOUNCE]

Given that the exchange rate is trading near the lower boundary of the ascending channel pattern, a breakout could occur.

If the breakout occurs, a decline towards the weekly support level at 1.7990 could be expected this week. 

However, if the channel pattern holds, bulls could pressure the GBP/AUD currency exchange rate higher during the following trading sessions.

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