Yesterday GBPAUD continued declining and approached support 1.7250 as expected. The cross rate faced rejection above the level and rallied back to 1.7342. Today recovery was extended to 1.7400. On the hourly chart, SMA90 is being tested; technical indicators suggest bias turns bullish but further gains are not likely as RSI reached 70 already. Therefore, upside remains limited around 1.7400 over short term.


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