Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).
GBP/AUD is leaning down
2019-11-11 • Updated
SELL 1.8700; TP 1.8640; SL 1.8720
On October 16, GBP/AUD met resistance in the 1.9090 area (resistance line from March highs). Since then, the pair has been consolidating with a bearish bias. On the D1, the price is far above the MAs. This makes the pound vulnerable for a decline to 1.8635 (100-period MA on the H4). The move down will be triggered in case of the decline below 1.8705 (38.2% Fibo retracement of the October advance). Bulls need to push the price above 1.8840 to get a chance to return to the 1.90 area.
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