HomeContributorsTechnical AnalysisGBP/AUD 4H Chart: Bullish Trend To Continue

GBP/AUD 4H Chart: Bullish Trend To Continue

The Pound Sterling has been edging higher against the Australian Dollar since the middle of September. The GBP/AUD currency pair has surged by 3.97% since September 11.

Technical indicators flash buying signals on the 4-hour and the daily time-frame charts. Most likely, bullish traders could continue to pressure the exchange rate higher within this week’s trading sessions.

However, a resistance cluster formed by the weekly R1 and the monthly R1 at 1.8332 could provide a barrier for bulls in the shorter term.

Dukascopy Swiss FX Group
Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
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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