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28 Nov 2013
GBP/AUD edging higher; 1.7980 target
FXstreet.com (Chicago) - GBP/AUD extends corrective move after printing 6-month highs above the 1.7980 front a few hours ago ahead of Tokyo’s opening and Australian data releases.
GBP/AUD Technical Levels
Price action reveals the pair continues edging higher as evidenced by a spike that broke the immediate resistance at 1.7976 momentarily printing fresh 6-month highs. On corrective move now, the pair is offered at 1.7930 and oscillates between the supports aligned at 1.7879 (May 23rd 2010 highs), 1.77 (November 22nd highs) ahead of 1.7567 (November 26th lows) and the resistances set at 1.7976 (November 27th highs), 1.8056 (February 22nd 2010 highs) followed by 1.8147 (June 14th 2010 highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish and navigates above the EMA20.
GBP/AUD Technical Levels
Price action reveals the pair continues edging higher as evidenced by a spike that broke the immediate resistance at 1.7976 momentarily printing fresh 6-month highs. On corrective move now, the pair is offered at 1.7930 and oscillates between the supports aligned at 1.7879 (May 23rd 2010 highs), 1.77 (November 22nd highs) ahead of 1.7567 (November 26th lows) and the resistances set at 1.7976 (November 27th highs), 1.8056 (February 22nd 2010 highs) followed by 1.8147 (June 14th 2010 highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish and navigates above the EMA20.