17 Oct 2013
GBP/AUD gives in 1.67 again
FXstreet.com (Chicago) - GBP/AUD continues printing lower highs and lows while attempting to forge grounds that fall on quicksand to give up the 1.67 for the third time in less than a few hours.
Outstanding results
With Australian business confidence indexes outperforming expectations and prior results, highest in 2 years, the Aussie outbeats the pound that prepares for retail sales data effects after weaker than expected job market results released yesterday.
GBP/AUD Technical Levels
Technically speaking, the pair is offered at 1.67 oscillating between supports aligned at 1.66 (July 30th lows), 1.6564 (July 29th lows), and 1.65 (July 24th lows) and the resistances set at 1.6713 (session lows), 1.6864 (August 12th lows) ahead of 1.6838 (August 12th lows). Extending the bearish channel on daily charts, a double tops pattern is evidences with confirmation of breakdown below the 1.67 zone.
Outstanding results
With Australian business confidence indexes outperforming expectations and prior results, highest in 2 years, the Aussie outbeats the pound that prepares for retail sales data effects after weaker than expected job market results released yesterday.
GBP/AUD Technical Levels
Technically speaking, the pair is offered at 1.67 oscillating between supports aligned at 1.66 (July 30th lows), 1.6564 (July 29th lows), and 1.65 (July 24th lows) and the resistances set at 1.6713 (session lows), 1.6864 (August 12th lows) ahead of 1.6838 (August 12th lows). Extending the bearish channel on daily charts, a double tops pattern is evidences with confirmation of breakdown below the 1.67 zone.