- GBP/AUD trades little changed around 1.8310 during initial Asian session on Wednesday.
- The pair recently crossed three-week old descending trend-line connecting highs marked since January 25.
- With the clear break of short-term resistance, the quote may accelerate its recovery to 1.8315 horizontal-line upside barrier.
- However, pair’s advance beyond 1.8315 can become difficult if overbought levels of 14-bar relative strength index (RSI) play its role, if not then 1.8440 and 1.8515 can reappear on the chart.
- Meanwhile, 1.8150 and 1.8080 can offer nearby support to the pair during its pullback ahead of highlighting an upward sloping trend-line at 1.8020, adjacent to 1.8000 round-figure.
- Given the pair’s decline under 1.8000, 50% Fibonacci retracement level of mid-December to late-January rise, at 1.7900, followed by 1.7820, can gain sellers’ attention.
GBP/AUD 4-Hour chart
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