GBP/AUD Might Start Dropping Soon

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.

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

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This article was originally posted on FX Empire

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