November 20, 2023 23:32 GMT
AUD/GBP: Rises Above 20-Day EMA
AUD/GBP firmed ~0.3% yesterday as risk sentiment improved yesterday, the cross breached the 20-Day EMA (£0.5226).
- In early trade on Tuesday we sit at £0.5245/50.
- Bulls now target the 200-Day EMA (£0.5297), a break through here opens the £0.54 handle and £0.5480, high from 3 Apr.
- On the downside bears immediate focus is on the 20-Day EMA, from here they can target the low from 14 Sep (£0.5139), the low from 5 Sep (£0.5063) and cycle lows (£0.5007).