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GBPAUD Holding Channel Support

GBPAUD Holding Channel Support

Paul Robinson, Strategist

Talking Points:

- GBPAUD bouncing off channel support

- 18750 looks possible in days ahead if today's rally holds

- 18340 critical level (today's low)

This morning, GBPAUD is bouncing off multi-month channel support. If today’s rally holds through the New York session, a bounce towards 18750 looks possible in the days ahead. Holding today’s low of 18340 will be critical going forward if this pair is to stay bound within the channel dating back to September.

GBPAUD 4-hr: Aug ’14 – Jan ‘15

---Written by Paul Robinson, DailyFX Research

To contact Paul, email him at instructor@dailyfx.com

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

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