Analysis on #GBP/#AUD The GBP/AUD closes the day with a doji, - TopicsExpress

Analysis on #GBP/#AUD The GBP/AUD closes the day with a doji, also suffering from an uneventful Monday barely a handful of pips up on the day. The short term picture has turned flat as per price being confined to a tight intraday range, albeit the 61.8% retracement of the latest daily fall continued to contain the upside around 1.8405. Indicators in the 1 hour chart rest horizontally above their midlines, with 20 SMA also flat below current price, giving not much clues on upcoming direction. In the 4 hours chart 20 SMA heads higher below current price while indicators stand directionless in positive territory. A stronger resistance stands a few pips above mentioned Fibonacci level, at 1.8430, and is still required a break above it to confirm some upward extension, with 1.8320 now as the support to break to deny such advance and favor a continued decline. Support levels: 1.8350 1.8295 1.8240 Resistance levels: 1.8405 1.8430 1.8480 At cwmfxeducation/ we connect the dots. Start learning how to #trade #forex

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