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Currency Analysis Report 12/11/20 - GBP/AUD Wants To Go Lower by rollandthomas

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· @rollandthomas · (edited)
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Currency Analysis Report 12/11/20 - GBP/AUD Wants To Go Lower
<center>![](https://images.hive.blog/DQmdZAephbUnV8An4dKYypRhBze6dVeM6U3XRqScatipYAN/image.png)</center>

After almost four years where England voted to leave the EU, Brexit is finally happening, so we thought. But England will still be subject to all E.U. laws and regulations until at least the end of 2020 with a two year extension, if necessary.

English Prime Minister Boris Johnson said on Thursday there was a strong chance Britain and the EU wouldn’t agree on a new trade, but did promised by any means necessary something would happen in order to avoid a wild split in three weeks.

Australia, has no comprehensive trade deal with the EU, leaving its trade mostly subject to tariffs.  Speaking on Australia, the Aussie has been on a year.

<blockquote>

 Australia’s dollar broke through 75 U.S. cents to its highest level in two-and-a-half years as investors ramped up bets on a successful vaccine roll-out and improving global growth.

The Aussie rose as much as 0.9% to 75.14 U.S. cents, the highest since June 2018. It has gained almost 7% against the greenback this year as a rebound in China’s economy and recovering iron-ore prices bolster demand for the commodity currency.

</blockquote>

<center><a href="https://finance.yahoo.com/news/australian-dollar-hits-highest-2-132653750.html">Source</a></center>

So where is the GBP/AUD headed next?

Monthly Chart (Curve Time Frame) - monthly supply is 2.0500 at and monthly demand is at 1.6150.

![image.png](https://images.hive.blog/DQmPQZ3gSXxg6marGXPDP5t3Dq7qgHzd6y3GVkcsHqiXhWW/image.png)

Weekly Chart (Trend Time Frame) – the trend is up as the last pivot higher low hasn't been breached yet.

![image.png](https://images.hive.blog/DQmUgkCTTUvJwG7bdZuowbTYmoK6P26KW98yjC1dp3Eefms/image.png)

Weekly Chart (Entry Time Frame) – the chart suggests the weekly demand held at 1.74500 once, but now is in jeopardy of getting breached. 

![image.png](https://images.hive.blog/DQmbrR9Fmr5Pj9zWUzcWt7q1osfw9knWNX7hPgro26iiu1H/image.png)



This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.




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vote details (79)
@aiovo ·
Yeah it low these days and I'm holding them for better price
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@behiver ·
Currently there is quite a downtrend on the pair and along with Brexit I think will continue. Let's see if the resistance will hold up and for GBP to bounce back or not.

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https://twitter.com/babyminer222/status/1337415309570035712
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