A WEARY GBP-AUD
📊 A WEARY GBP-AUD
🌅 Sterling has been on the heat seat for quite some time now, as the market continue to shrug amidst the covid-19 2nd wave in the UK.
❇️ Considering the TA of the chart, sterling is currently ranging around the 1.8400 resistance zone, of which appears to be a very strong long term resistance which haven't shown any sign of weakness lately.
🌼 As the week advances we expect to see a weaker sterling in play and an expected bearish correction of about 250pips- quite unlikely, however, a possible upward stretch to the 100% fibo level @1.850 would yield a more intense sell-off.
🌅 Sterling has been on the heat seat for quite some time now, as the market continue to shrug amidst the covid-19 2nd wave in the UK.
❇️ Considering the TA of the chart, sterling is currently ranging around the 1.8400 resistance zone, of which appears to be a very strong long term resistance which haven't shown any sign of weakness lately.
🌼 As the week advances we expect to see a weaker sterling in play and an expected bearish correction of about 250pips- quite unlikely, however, a possible upward stretch to the 100% fibo level @1.850 would yield a more intense sell-off.
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