GBP/AUD may rise 57 - 85 pips

Our pivot point is at 1.9483.

Our preference

As long as 1.9483 is support look for 1.9608.

Alternative scenario

Below 1.9483, expect 1.9437 and 1.9409.

Comment

The RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.9497 and 1.9447).

Supports and resistances

1.9663 **

1.9635 *

1.9608 **

1.9580

1.9523 last

1.9502

1.9483 **

1.9437 *

1.9409 **

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