GBPAUD Remains Bullish

The GBPAUD market appears poised to maintain its upward trajectory, driven by sentiment surrounding the quote currency. Inflation in Australia has increased by 0.9%, while the country’s stock market continues on a bearish path.

Key Price Levels

Resistance Levels: 2.1000, 2.1500, 2.2000

Support Levels: 2.0500, 2.0000, 1.9500

GBPAUD Bulls Command Attention

The GBPAUD market has continued to attain higher ground, as reflected by the green price candles on the pair’s daily chart over the past two sessions. The latest price candle is positioned above the 9-day Exponential Moving Average (EMA) line. However, it features an upper shadow, indicating some resistance or contraction at higher levels.

Likewise, the Moving Average Convergence Divergence (MACD) lines remain above the equilibrium level and are trending toward a bullish crossover. The histogram bars, though pale red and located below the equilibrium line, are shrinking—suggesting that bearish momentum is weakening. This tends to indicate that upward forces are likely to continue driving the market higher.

GBPAUD Sees a Promising Rebound

On the 4-hour chart, the GBPAUD market has shown a moderate rebound after testing the support provided by the 9-day EMA curve. The ongoing session appears balanced, suggesting that buyers had anticipated the support bounce. With price action still above the equilibrium level, the market seems prepared for another leg upward.

The MACD lines have climbed above the equilibrium level, and the lead line appears to be preparing for a bullish divergence. Consequently, it seems this market is likely to proceed toward the 2.1000 price level.

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