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Forex pairs in this Article » GBP/USD (Moscow) - GBP/AUD is trying to take out the resistance of 1.8400 after growing nearly 70 pips during Asian hours

GBP/AUD thrives at the AUD woes

GBP/AUD is poking an important resistance level of 1.8400. This area may not give way easily, but once it is broken, we may see the upside to accelerate to 1.8437 and 1.8448. The failed attempt at the above mentioned resistance will probably cause the short term correction to the opening level of 1.8346. From the fundamental perspective, Aussie is sold across the board on the disappointing Chinese data. The slow down in China loan growth confirms that the economy is cooling down, which is regarded as the AUD-negative. Keeping this in mind, we believe that the longer-term Aussie bias is more to the downside.

What are today’s key GBP/AUD levels?
Today's central pivot point can be found at 1.8266, with support below at 1.8173, 1.7991 and 1.7898, with resistance above at 1.8448, 1.8541, and 1.8723. Hourly Moving Averages are bullish, with the 200SMA at 1.8356 and the daily 20EMA at 1.8325. Hourly RSI is neutral at 71.31.
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