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Charting FX: possible short-term bottom in AUD/USD

GBP/USD has come back to its September 7 level. The important resistance level to watch is now $1.527. If the pound breaks it, investors could regain confidence in the pair, but if that level holds, we could be in for a significant period of downside

All trading involves risk. Losses can exceed deposits.

EUR/GBP has been trading sideways for the last month. It is now close to a major resistance level at £0.738. This could turn out into a double-top formation. We saw recently some sort of resurgence in the AUD/USD. On short-term charts we can see an ascending triangle and we could see a breakout towards the upside. But on the long-term, the pair could go lower. 

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