GBP/AUD Falling Towards Trendline Support
Updated
The GBP/AUD pair is currently in a downward movement, and we anticipate that this trend will continue until it reaches the trendline support level. At that point, there is a possibility the price could reverse and start moving upwards. However, if the pair breaks below the trendline support, the downtrend is likely to extend further, with the price potentially dropping towards the key support level at 1.9300. Traders should carefully watch how the price behaves around these significant levels to determine the next market direction.
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GBP/AUD held firm above the support level at 1.9510 and did not break below it, signaling a potential reversal or continuation of its upward movement. The inability to breach this support indicates that buyers are stepping in to defend the level, leading to a possible bullish recovery.
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