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AUD/GBP: See-Sawing Around 20-Day EMA

AUD

AUD/GBP continues to see-saw around the 20-Day EMA (£0.5207), moves have had little follow through and ranges remain narrow.

  • The cross sits at £0.5200/05 in early dealing on Thursday.
  • 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).
  • To turn the tide bulls are focused on sustaining a break of the 20-Day EMA, which opens the high from 29 Sep (£0.5303),the 200-Day EMA (£0.5310) and the £0.54 handle.

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