GBPAUD – new low, falls targeting 1.9900

After rebound lasting almost entire January, yesterday supply finally won and deepened latest low. If today’s macroeconomic data from UK doesn’t make a sentiment reversal declines will continue. It should be noted that, since August price moves in bearish regression channel and tested the upper band of the channel (which was at mid-January) GBPAUD move towards its lower limit. Important support which should make rebound is at 1.9900 level. Nearest resistance is located at: 2.0180.

Try FX GROW. Spread from 0.00001 also STP/ECN execution, full transparency. FxGrow launches new feature packed Website with technical analysis and economic calendar.

Time-frame H4