HomeContributorsTechnical AnalysisGBP/AUD 4H Chart: Moving Towards Target

GBP/AUD 4H Chart: Moving Towards Target

The Pound Sterling has been strengthening in an ascending channel against the Australian Dollar. The pair has remained trading in several ascending channels and as a result, reached a four-month high.

The currency pair has moved closer to the border of a junior pattern and a breakout could be expected through the upper boundary during the following trading sessions.

The closest upside target is the weekly R1 at 1.8251, however, from a theoretical point of view, the exchange rate has to make a corrective move south for a re-test of the monthly PP at 1.7962.

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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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