GBP/AUD Sees a Steep Dive

The GBP/AUD market has continued its steep decline. Most interestingly, this is occurring at a time when both sides of the market are not generating much activity. However, the Australian dollar appears to be the heavier force at the moment and keeps driving the market lower.

Key Levels

Resistance: 1.9900, 2.0100, 2.0300

Support: 1.9700, 1.9500, 1.9300

GBP/AUD Bears Keep a Strong Grip on the Market

Over the past three sessions, the GBP/AUD market has remained bearish. However, one thing is clear: downward forces have been growing stronger over these sessions.

The ongoing session has displayed much stronger bearish momentum, pushing the market further below the 9-day Exponential Moving Average (EMA) line.

Likewise, the Stochastic Relative Strength Index (SRSI) lines are falling steeply deeper into the oversold region. This reinforces the impression that bearish headwinds remain strong.

GBP/AUD Eyes the 1.9500 Level

On the 4-hour chart, the GBP/AUD market remains on a bearish path. The current session is printing a red candle, reflecting strong selling pressure.

Price action continues to trade below the 9-day EMA, suggesting that bearish forces are still pushing the market lower.

Although the SRSI lines remain in the oversold region, they show a slight upward tilt following a bullish crossover—likely a residual effect of the previous session’s rebound.

Nevertheless, the broader trend remains bearish, and the pair appears poised to test the 1.9500 price level.

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