GBP/AUD may fall 84 - 119 pips

Our pivot point is at 1.9469.

Our preference

The downside prevails as long as 1.9469 is resistance.

Alternative scenario

Above 1.9469, look for 1.9528 and 1.9563.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.9433 and 1.9426).

Supports and resistances

1.9563 **

1.9528 *

1.9469 **

1.9446

1.9414 last

1.9330

1.9295 **

1.9260 *

1.9225 **

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