GBPAUD General Upward Correction Remains Intact

The recent economic developments surrounding the GBPAUD pair appear to have favored the bulls, pushing prices higher throughout the week. Although the market ended the week with a red candlestick, the broader uptrend remains firmly intact at the time of writing.

Key Price Levels

Resistance Levels: 2.1000, 2.2000, 2.3000

Support Levels: 2.0000, 1.9500, 1.9000

GBPAUD Experiences Minor Pullback from Higher Levels

For most of the past week, the GBPAUD market trended upward. However, the most recent candlestick closed red, signaling a slight pullback.

Despite this, price action remains comfortably above the midline of the Bollinger Bands, indicating continued bullish strength. Additionally, the Stochastic Relative Strength Index (SRSI) remains in the overbought region, with the lines converging but not yet crossing—suggesting potential for further upward movement.

GBPAUD Bulls Make a Decisive Move

On the 4-hour chart, price action is recovering key technical ground. The latest green candlestick has lifted the pair back above the middle Bollinger Band, a strong indication of renewed bullish momentum.

Meanwhile, the SRSI lines are trending downward, but the lead line appears to be curving toward a potential crossover. If buyers can maintain their momentum, the market may advance toward the 2.1000 resistance level.

Make money without lifting your fingers: Start trading smarter today