GBP/AUD with a supply zone around 1.7360

GBP/AUD with a supply zone around 1.7360

GBP/AUD stays alive in the bearish trend held since several days ago, consolidating its price action below the 200 SMA at H1 chart, which is also offering a dynamic resistance in the pair across the board. The next target to the upside lies at the Fibo target of 50% in 1.7359, at which could trigger sell orders to reach the next downside target at the -23.6% Fibo level at 1.7137.

RSI indicator remains in the neutral territory, pointing to the downside in the short-term.




Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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