GBP/AUD 4/19/2012 4H chart" title="GBP/AUD 4/19/2012 4H chart" width="673" height="435">The GBP/AUD failed to sustain a break below range support seen in the 4H chart at 1.5310 on Thursday. After consolidating around 1.53, the market rallied, stalled under 1.55, and in the 4/19 European-US session, is breaking above 1.55 and consolidation resistance. The moving averages are realigning themselves to show a bearish market (with 200 SMA at the bottom, than 100, 55, 21, and 8 going up). If this is a true breakout, and there is a throwback, the 1.54-1.5425 area should provide support. GBP/AUD chart 4/19/2012 daily" rel="noopener nofollow" target="_blank">
GBP/AUD chart 4/19/2012 daily" title="GBP/AUD chart 4/19/2012 daily" width="673" height="401"> The daily chart on Thursday showed the target for the current breakout. The 1.5677 level is a resistance formed in December 2011. From the resistance area of 1.5650-1.5677, we might expect a bit stronger reaction, back toward the 1.55, and the 1.54 area. However, if the market pushes above 1.57, we open up the next resistance pivot from November 2011, near 1.6050.