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GBP/AUD Might Start Dropping Soon

By:
Nenad Kerkez
Published: Jul 21, 2020, 07:41 GMT+00:00

The GBP/AUD is not strong as the GBP/USD due to AUD strength and we might see the pair start dropping soon.

GBP/USD, GBP/AUD

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The GBP/AUD is not strong as the GBP/USD due to AUD strength and we might see the pair start dropping soon.

1.8030-50 is the POC zone. No close above the trendline should mark the start of the down-move in the GBP/AUD. The GBP is strong, but the AUD being a commodity currency is also strong so we might see a move down as the price is at the confluence and overall bearish. Targets are 1.8002, followed by 1.7965 and 1.7900. The move down in the GBP/USD will also reflect on the GBP/AUD but in a stronger way.

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The Analysis has been done with the CAMMACD.Core and Sit Systems

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About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

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