GBPAUD GBP/AUD has drifted slightly lower over the past week (≈ –0.47%) and month (≈ –0.18%), despite being up roughly +9% YTD. The pair remains under bearish pressure in the short term, primarily due to weaker-than-expected UK GDP data and dovish signals from the Bank of England, which have raised concerns over a potential economic slowdown and future rate cuts.
These fundamentals are weighing on the British Pound, while the Australian Dollar remains relatively stable due to commodity support and neutral RBA guidance.
Technical Outlook (1-Hour Timeframe):
GBP/AUD recently formed a triple top pattern at the upper range, signaling strong seller dominance. Price has since rejected and is heading lower, currently testing the 2.0850–2.0760 minor support zone.
After this zone was broken, price began accumulating sell positions, suggesting institutional interest in driving the pair toward a liquidity zone. We are now seeing a potential stop-loss hunt near 2.0740, which aligns with a smart money sell setup.
Once the market breaks below and closes a bearish candle under key support, it will confirm further downside continuation.
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