The Pound Is Active During Asian Session

• 18 Oct 2017

GBP/AUD

The GBP/AUD pair is testing the 1.679 price level having broken the 20-period EMA. Momentum indicators have a downward trajectory and MACD is fast approaching the zero line. Volume appears to be rising into the move, however the downtrend will have more weight if price action is able to break the 1.67 price level.

Impact event: U.K. Average Earnings data will be released at 11:30 and will impact all GBP pairs.

GBP/CAD

The GBP/CAD pair has broken the 1.652 price level and the 20-period EMA. RSI has a downward trajectory and MACD is approaching the zero line indicating sentiment is turning bearish. Volume has been rising into the move indicating that sellers may be able to push prices towards the 1.637 price target.

SILVER

Silver prices have also broken the 17.11 price level as well as the 20-period EMA. However, momentum indicators are divergent from price action, with both MACD and RSI having upward trajectories and MACD close to breaking the zero line to the upside. The break below the 17.11 price level may not be sustained.

CHF/JPY

The CHF/JPY pair has been testing the 114.69 price level. Momentum indicators are mixed as RSI has begun a mild upward trajectory after hitting close to the 30 support level. MACD remains above the zero line but appears close to a break to the downside. A break of the price level in either direction will be required to stimulate the market to push prices in one direction or another.