28 Oct 2013
GBP/AUD is trendless
FXstreet.com (Chicago) - GBP/AUD extends trading range maintaining 2-week altitudes after fall from the 1.6930 front last week. The pound seems exhausted across the board although hourly and 4HR charts indicate there is buying pressure.
GBP/AUD Technical Levels
Technically speaking, the pair is offered at 1.6866 and oscillates between the supports aligned at 1.6848 (October 16th highs), 1.68 (October 18th highs) ahead of 1.6751 (October 24th lows) and the resistances set at 1.6881 (October 24th highs), 1.6932 (October 25th highs) followed by 1.6978 (October 8th lows). With primary and secondary trends diverging and short-term converging with upward movement of the latter, the pair flows on the EMA20 and is reported as slightly bearish by the FXstreet.com trend index on one-hour timeframe analysis.
GBP/AUD Technical Levels
Technically speaking, the pair is offered at 1.6866 and oscillates between the supports aligned at 1.6848 (October 16th highs), 1.68 (October 18th highs) ahead of 1.6751 (October 24th lows) and the resistances set at 1.6881 (October 24th highs), 1.6932 (October 25th highs) followed by 1.6978 (October 8th lows). With primary and secondary trends diverging and short-term converging with upward movement of the latter, the pair flows on the EMA20 and is reported as slightly bearish by the FXstreet.com trend index on one-hour timeframe analysis.