Failure to break the ascending trend channel resistance drove down the GBPAUD that seems declining towards testing 1.9360 support, including 23.6% Fibo of its September 2014 to February 2015 up-move. On the break of 1.9360, the 1.9200 and the 23.6% Fibo, near 1.8950, immediately followed by the 1.8860 – 1.8850 support-zone, including 100-day SMA and support-line of the channel, are likely restricting the decline of the pair. Should it break below 1.8850, it can register considerable decline to 1.8400 region. On the upside, 1.9830 and the 2.0000 psychological mark, quickly followed by the trend channel resistance, near 2.0080, could restrict the near-term upside of the pair. On the sustained break of 2.0080, the pair could gain noticeable gains to rally towards 2.0600 mark.


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