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GBPAUD slips, could struggle until bullish cross confirmed
GBPAUD has declined considerably since it reached an almost three-year high of 1.8880 on Monday, sending the price until the 1.8530 support. The RSI is turning slightly lower approaching the 50 level, while the stochastic oscillator seems to be strongly bearish, as it is heading towards the oversold territory. However, the 20- and 40-simple moving averages (SMAs) in the daily chart are ready to post a bullish cross despite the latest bearish movement. If the price continues to slip further, a rebound could come around the crossover within the SMAs currently at 1.8440, but first needs to challenge the 23.6% Fibonacci ... (full story)