As the UK goes into a 4 day weekend with the Jubilee bank holiday the pound is looking very desperate especially on the GBP/AUD. It is currently holding onto support arround the 1.7450 region and looking at previous downside breakouts at this level in the past we have seen a 200 pip sharp movement which could be very worrying for the pair.
On the higher timeframes around the weekly and daily it also look extremely bearish and here on the 4 hour we can see all of the moving averages pointing down providing a resistance for the pair.
Movements over the coming weeks on this pair will in very interesting to watch.
On the higher timeframes around the weekly and daily it also look extremely bearish and here on the 4 hour we can see all of the moving averages pointing down providing a resistance for the pair.
Movements over the coming weeks on this pair will in very interesting to watch.