Mon, Aug 02, 2021 @ 07:14 GMT
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GBP/AUD 4H Chart: Potential Reversal

During last week’s trading sessions, the British Pound appreciated about 2.07% in value against the Australian Dollar. The 100– hour simple moving average pressured the currency pair higher.

As for this week’s trading sessions, the GBP/AUD exchange rate could make a U-turn down. The potential target for bearish traders will be near the 200– hour SMA at 1.8907.

However, a support cluster formed by the weekly pivot point and the 50– period SMA at 1.9130 could provide support for the currency exchange rate in the nearest future.

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This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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