GBP/AUD trades near major trend line resistance, targets 1.9850 Short

British Pound/Australian DollarFXCM

Description

⋅ Jun 17, 2015 7:56 AM

GBP/AUD is trading near trend line resistance 2.0350 level and any break above confirms further bullishness.

In the weekly chart GBP/NZD has formed bearish divergence which confirms short term weakness , decline till 1.9735 is possible.

It is good to sell around 2.0295 with SL around 2.0350 for the TP of 1.9865/1.9750.

Comments

Jackteo

⋅ Jun 17, 2015 8:59 AM

Hi, what's the next resistance after 2.0350? Thx

FxWirePro

⋅ Jun 17, 2015 9:00 AM

2.095

Jackteo

⋅ Jun 17, 2015 9:01 AM

This is not a good news... Thanks for the info and thanks for posting your analysis.