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GBP/AUD Moves Toward 25-Year Low

GBP/AUD Moves Toward 25-Year Low

Thomas Long, Course Instructor

This daily chart shows a market that is poised to test that 25-year low at the 1.62296 level. A move down through that level would confirm the strong bearish trend and perhaps open the door to more selling pressure. I would continue to look for sells as long as the pair remains below the 1.67387 high noted on the chart.

GBPAUD_body_69082d1286379176-trend-day-gbpaud-1006.png, GBP/AUD Moves Toward 25-Year Low

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.