We have come rather close to the mid february 2012 low near 1.4550, bouncing twice from 1.4625/30 which shows on the hourly as a potentially short-term bottoming formation.
GBPAUD Hourly
There are signs of bullish potential divergence in the hourly and should we hold and not continue the slide again then that divergence may be seen in the 4H.
GBPAUD Daily
GBPAUD Weekly
The daily and weekly show the breakdown through the weekly support line and with weakness and a general bearish outlook on sterling we could soon see a test of the all-time low.
There will be significant long-term stops below 1.4550 and an open window all stations south.
The bold may like the idea of buying near the lows and joining the close stops: a decent risk reward for a few hundred pips if it holds.
