The British Pound Is Under Pressure From Major Peers

• 30 Mar 2018

GBP/CHF

The GBP/CHF pair has broken a previous resistance area at the 1.339 price level having retraced from a strong bullish run. The break should send price action towards the 23.6 Fibo level, which may represent a support area. RSI and MACD are undergoing momentum reversals in support of bearish price action.

AUD/CAD

The AUD/CAD pair is testing the 0.990 price level which represents a previous support line. The pair has stalled at this level with a series of doji candles representing indecision from the market. If the pair breaks this level, the next price target is set at the 0.980. MACD has broken the zero line to confirm bearish momentum.

GBP/NZD

The GBP/NZD pair is struggling to break the 1.940 price level and price action is approaching the 20 period EMA. A break of these price levels would prove significant. Momentum indicators have turned bearish, with a moderate momentum reversal underway on MACD.

AUD/NZD

An inverted hammer candlestick after the recent downtrend confirms the trend reversal for the AUD/NZD pair. So , despite pressure from sellers, buyers managed to win the tussle, which has then been followed by a bullish candle in today’s trading.