GBPAUD: Detailed Technical Outlook
The GBPAUD is currently testing a trend line and horizontal structure that was recently breached.
On the 4-hour chart, the market is consolidating within a horizontal range. I will wait for a break above the resistance to confirm a strong bullish move.
A close above 1.9490 will validate this breakout, and if it occurs, I anticipate the price could rise to at least 1.9580.
Conversely, a break below the support of the range may lead to lower prices.
On the 4-hour chart, the market is consolidating within a horizontal range. I will wait for a break above the resistance to confirm a strong bullish move.
A close above 1.9490 will validate this breakout, and if it occurs, I anticipate the price could rise to at least 1.9580.
Conversely, a break below the support of the range may lead to lower prices.
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