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AUD/GBP: Recovery Off Cycle Lows Capped At 20-Day EMA

AUD

The pair has continued to recover off its cycle lows printed on Tuesday, gains have been capped above the 20-Day EMA in recent dealing.

  • AUD/GBP prints at £0.5245/50, and sits ~1.7% above Tuesday's low
  • Bulls now target the high from 23 June (£0.5309), a break through here opens high from 20 June (£0.5359) and the 200-Day EMA (£0.5457).
  • On the downside bears first look to break cycle lows at £0.5156, this opens the £0.50 handle and the March 2020 low at £0.4795.

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