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AUD/GBP: Holding Above 20-Day EMA

AUD

AUD/GBP has held above the 20-Day EMA (£0.5211), ranges remain narrow with the cross observing a £0.5170/0.5250 range for the most part last week.

  • In early trade on Monday we sit at £0.5230/35.
  • Bulls are focused on sustaining a break of the high from 25 Oct (£0.5258) which opens the 200-Day EMA (£0.5309) and the £0.54 handle.
  • AUD/GBP remains in a technical downtrend, bears first target the low from 14 Sep (£0.5139), this opens the low from 5 Sep (£0.5063) and cycle lows (£0.5007).

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