GBP/AUD intraday: below its lower Bollinger band
1.9454 is our pivot point.
Our preference: the downside prevails as long as 1.9454 is resistance.
Alternative scenario: above 1.9454, look for 1.9509 and 1.9542.
Comment: the RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.9451 and 1.9457). Finally, the GBP/AUD has penetrated its lower Bollinger band (1.9405).
Supports and resistances:
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