EUR/GBP Price Forecast: Breakdown from channel could follow-through lower

Source Fxstreet
  • AUD/USD has broken above a trendline and established a new short-term uptrend. 
  • It will probably extend to the August highs. 
     

AUD/USD has begun a new leg higher after bottoming out on September 11. This new leg has broken above a key trendline for the correction of the August rally – a bullish sign – which, amongst other things, suggests it is now in a short-term uptrend. 

AUD/USD Daily Chart 

It is a principle of technical analysis that “the trend is your friend” which suggests the Aussie is likely to continue higher. It will probably match or almost match the 0.6824 August 29 high. The resistance level at 0.6799 ( July high) might, however, slow it down along the way. 

Momentum, as measured by the Relative Strength Index (RSI) is mirroring price, a fact that is supportive of the current mini-rally. 

 

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Gold Price Forecast: Why Did Gold Rebound After September PPI Rose by Most in Nearly Four Years? As of the European session on October 16, gold prices (XAUUSD) extended their rebound, with the latest price trading near $4,185, up about 0.4% on the day. Gold prices had previously drop
Author  TradingKey
Yesterday 10: 17
As of the European session on October 16, gold prices (XAUUSD) extended their rebound, with the latest price trading near $4,185, up about 0.4% on the day. Gold prices had previously drop
placeholder
Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - October 16, 2026Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 16, 2026. Read on for the details.
Author  Mitrade
Yesterday 08: 58
Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 16, 2026. Read on for the details.
placeholder
Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - October 14, 2026Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 14, 2026. Read on for the details.
Author  Mitrade
Yesterday 08: 41
Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 14, 2026. Read on for the details.
placeholder
Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - October 15, 2026Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 15, 2026. Read on for the details.
Author  Mitrade
Yesterday 08: 40
Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 15, 2026. Read on for the details.
placeholder
Today’s Market Recap: U.S. Stocks Rebound, Dow Jumps Over 1%, Micron Gains 1.87%, CoreWeave Rallies Nearly 6%Tracking the Market TrendTradingKey - On October 15, Eastern Time, U.S. September PPI data posted its largest monthly and annual gains since 2022, prompting investors to shift from AI tech stocks to d
Author  TradingKey
Yesterday 01: 20
Tracking the Market TrendTradingKey - On October 15, Eastern Time, U.S. September PPI data posted its largest monthly and annual gains since 2022, prompting investors to shift from AI tech stocks to d
Related Instrument
goTop
quote