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  • GBP/AUD is taking the round of bids near 1.8640 during early Wednesday.
  • The pair grew from 1.8550 to the intra-day high near 1.8645 after gross domestic product (GDP) figures from Australia weakened on a quarterly basis.
  • The fourth quarter (Q4) GDP figure lagged behind 0.3% market consensus and prior to 0.2% on quarterly basis whereas yearly comparison show 2.3% growth from the 2.8% registered during the same time last year and 2.5% forecast.
  • After the release, the GBP/AUD pair broke descending trend-line resistance, at 1.8625, that joins the highs since late-Monday.
  • As a result, buyers may now aim for 1.8720/25 area comprising highs marked in February and March till present.
  • Given the pair crosses 1.8725 upside barrier, 61.8% Fibonacci expansion level of 1.8795 may lure the Bulls.
  • Meanwhile, pullback under 1.8625 resistance-turned-support can well drag the quote to 23.6% Fibonacci retracement level of 1.8545 while a downward sloping trend-line at 1.8500 could restrict additional declines.
  • If at all sellers refrain from respecting 1.8500 support, an ascending support-line stretched since February 21, coupled with 38.2% Fibonacci, might flash the 1.8440 on their radar.

GBP/AUD hourly chart

GBP/AUD

Overview:
       Today Last Price:  1.8628
       Today Daily change:  0.0033  pips
       Today Daily change %:  0.18%
       Today Daily Open:  1.8595
Trends:
       Daily SMA20:  1.8318
       Daily SMA50:  1.8146
       Daily SMA100:  1.7986
       Daily SMA200:  1.7925
Levels:
       Previous Daily High:  1.8639
       Previous Daily Low:  1.8524
       Previous Weekly High:  1.8725
       Previous Weekly Low:  1.8195
       Previous Monthly High:  1.8725
       Previous Monthly Low:  1.7869
       Daily Fibonacci 38.2%:  1.8595
       Daily Fibonacci 61.8%:  1.8568
       Daily Pivot Point S1:  1.8533
       Daily Pivot Point S2:  1.847
       Daily Pivot Point S3:  1.8417
       Daily Pivot Point R1:  1.8649
       Daily Pivot Point R2:  1.8702
       Daily Pivot Point R3:  1.8764