Ransquawk

The GBPAUD from Wednesday has a high momentum, which today brought the pair to the key resistance zone at 1.8506, where the maximum from March and April of this year is focused.The last time when the resistance zone mentioned above was tested, the rate slid by over 1110 pips to the level of 1.7390. There is a chance that this time the quotes will rebound from the resistance because the price has significantly moved away from the daily average (EMA 10/20 channel).In addition to the medium channel, the nearest key horizontal support in the case of rebound can be found between 1.8000 – 1.7940. Alternatively, if you successfully overcome the resistance at 1.8506 you will not see any significant levels up to 1.9500 where the sell-off after the referendum on Brexit started in June 2016.

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Ransquawk