Technical Updates

GBP/AUD : May the Target at 1.5750? November 08, 2010

Indicators :
– RSI Period 14 with 30 level as oversold and 70 level as overbought.
– Simple Moving Average Period 50 (Green) on the chart.

Comment : The Pound Aussie slide on bearish scenario, RSI show up bullish signal may bring the market up to 1.600x before. Actually the market running in the strong bearish 1X1 Gann’s price & timing. Below 1.608x resistance level is confirmation such as RSI continue in the downtrend which the first target at 1.5750 as the previous max price projection of SMA-50.

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