Home›Forex›Major Pairs›GBP to AUD and USD to CHF set up for pullbacks from ke…

GBP to AUD and USD to CHF set up for pullbacks from key resistance

ActionForex.com points to potential drops toward 1.9115 for GBPAUD and 0.8000 for USDCHF after recent reversals from established resistance zones.

Reported · Written up by our desk · Major Pairs

ActionForex.com said the GBPAUD currency pair has reversed down from a resistance area capped by 1.9365, the upper daily Bollinger Band, and the 50% Fibonacci correction tied to the December downside move.

The outlet linked the rejection to the strength of the 1.9365 level and an overbought daily Stochastic reading, saying GBPAUD could fall further to the next support level at 1.9115.

ActionForex.com also flagged USDCHF as having reversed down from a resistance zone that includes the long-term 0.8130 level, the upper weekly Bollinger Band, and a 38.2% Fibonacci correction.

It suggested USDCHF could test the next support level at 0.8000 after the pullback from that resistance area.

More like this

Sources