GBP/AUD: bearish reversal

GBP/AUD: bearish reversal

2020-04-28 • Updated

GBP/AUD has breached the support line from August 2019. What is happening at the chart looks like a pretty big change. The bullish trend is reversing down. On Thursday, the pair closed below the 100-day MA at 1.9450 and this level will act as resistance. The further resistance levels lie at 1.9600 and 1.9750. The next target on the downside is a 1.9215 (50% Fibonacci retracement of the 2019-2020 advance). 

Trade idea for GBP/AUD

SELL 1.9320; TP 1.9220; SL 1.9350

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AUD/USD  is looking badly
AUD/USD is looking badly

AUD/USD began the week slightly higher reaching as high as 0.7725 before declining earlier today to 0.7690’s.

How about shorting the pound?
How about shorting the pound?

The level of 23.6% Fibonacci retracement at 1.3795 is in the focus on the H4. The next level to watch on the downside is 1.3755.

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Technical analysis for EUR/USD
Technical analysis for EUR/USD

EUR/USD found support at 1.1845 and is currently trading just below the 61.8% Fibonacci retracement of the March-May advance at 1.1920.

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