GBPAUD Chart Technical Outlook

GBPAUD Chart Technical Outlook remains bearish with a potential bearish H&S pattern in progress

The Pound remains sold against a stronger Australian Dollar. Speculation about an RBA hike next week and the positive risk sentiment, with the market increasingly pricing the end of the US Fed tightening cycle, has boosted the Aussie across the board.

Technical indicators are pointing lower, with bears aiming to 1.8855, the neckline of a big Head and Shoulders pattern, with its measured target at the 78,6% retracement of the February-August rally, at 1.7800.

Support levels are the mentioned 1.8855 and 1.8522.
Resistances are 1.9020 and 1.9100.

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