Sterling Weaker At Close Of Trading Week

• 6 Oct 2017

GBP/CAD

The GBP/CAD daily chart shows the pair breaking the 20 period EMA to the downside. Momentum indicators suggest that sentiment is turning bearish with both MACD and RSI having downward trajectories. Volume appears to be sustained which gives weight to the downtrend.

EUR/USD

The EUR/USD currency pair has broken the 1.172 price level to the downside, with MACD also breaking the zero line within the last four bars. RSI indicates that there is still room for further downside, however, volume has dipped in recent trading sessions. Momentum does, however, appear to be with sellers.

EUR/GBP

The Euro appears to have gathered strength over the pound as the EUR/GBP pair has broken both the 20-period EMA and the 0.892 price level. MACD indicates that sentiment has become less negative and RSI has a sharp upward trajectory. Momentum appears to be with buyers.

AUD/USD

A strong break of the 0.781 price level would suggest that sentiment has turned sharply bearish for the AUD/USD pair. A break of the zero line on MACD confirms the bearish sentiment which may send price action towards the 0.768 price level.  RSI is, however, approaching the 30 oversold line and consecutive tests of lower Bollinger band suggest that the downtrend may not be sustained.