GBP/AUD may fall 51 - 75 pips

1.9404 is our pivot point.

Our preference

Technical rebound towards 1.9404 before a new drop.

Alternative scenario

The upside breakout of 1.9404, would call for 1.9444 and 1.9467.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price stands above its 20 period moving average (1.9355) but below its 50 period moving average (1.9379).

Supports and resistances

1.9467 **

1.9444 *

1.9404 **

1.9389

1.9370 last

1.9319

1.9295 **

1.9272 *

1.9248 **

Number of asterisks represents the strength of support and resistance levels.