Remember that Fib play that we spotted a couple of days back? Well, it looks like the pair is back to retesting the 1.6700 major psychological handle! This time around a bearish divergence is adding its weight in attracting forex bears. Don’t be so quick to short this one though! The 100 SMA has just crossed above the 200 SMA, which usually signals the start of a bullish trend. Watch out for a break above the 100 SMA on the daily time frame that we were looking at for possible signs that the pound is about to rally against the Aussie after all.
gpb aud.jpg
gpb aud.jpg
(Discuss) Gbp/aud:
