GBP/AUD Pair Analysis – Daily Timeframe:
Overall Trend: The pair is in an upward trend, currently undergoing a natural corrective move within the larger bullish structure.
Support Zone: Price has reached a strong rebound support area, increasing the probability of a bullish reversal.
Supporting Technical Indicators:
Relative Strength Index (RSI): Trading above the 50 level, reinforcing the bullish outlook.
Regular Positive Divergence: Observed between price action and momentum indicators, suggesting a potential upward reversal.
Moving Averages:
Price is positioned above the 200-day moving average, confirming the long-term bullish trend.
A positive crossover between the 20-day and 50-day moving averages further supports the continuation of the upward move.
Outlook:
As long as the price remains above the current support area and the positive technical factors persist, the pair is likely to resume its upward movement towards higher resistance levels.
Overall Trend: The pair is in an upward trend, currently undergoing a natural corrective move within the larger bullish structure.
Support Zone: Price has reached a strong rebound support area, increasing the probability of a bullish reversal.
Supporting Technical Indicators:
Relative Strength Index (RSI): Trading above the 50 level, reinforcing the bullish outlook.
Regular Positive Divergence: Observed between price action and momentum indicators, suggesting a potential upward reversal.
Moving Averages:
Price is positioned above the 200-day moving average, confirming the long-term bullish trend.
A positive crossover between the 20-day and 50-day moving averages further supports the continuation of the upward move.
Outlook:
As long as the price remains above the current support area and the positive technical factors persist, the pair is likely to resume its upward movement towards higher resistance levels.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.