GBPAUD Stays Sharp on a Volatile Upside Trajectory

Price activity in the GBPAUD market has rebounded off another higher support level. This appears to have been aided by economic developments on both sides of the pair. The UK aims to encourage economic growth by lowering its interest rate by 0.25 basis points (bps), while Australia faces a notable threat stemming from US trade tariffs. These factors have significantly influenced price activity in this market.

Key Price Levels:

Resistance Levels: 2.0000, 2.0200, 2.0400

Support Levels: 1.9900, 1.9800, 1.9600

GBPAUD Still Holds Upside Promise

Price action in the GBPAUD daily chart has risen past all the Moving Average (MA) lines over recent sessions. However, today’s trading activity has reinforced the market’s upside trajectory. This is evident in the formation of a green price candle for the ongoing session. The candle has appeared above all the MA lines, signaling a continued uptrend.

Meanwhile, the Stochastic RSI lines are falling through the 80 mark of the indicator. Although the behavior of the Stochastic RSI can be attributed to the steady decline seen in the previous session, the position of price action above all MA lines still holds bullish potential for traders looking to go long in this market.

GBPAUD Upside Momentum Is Growing

On the 4-hour chart, the GBPAUD market is retracing higher ground. More importantly, the momentum of the trend is strengthening. This is evident from the last three price candles on the chart. The most recent price candle remains green and appears more significant than the previous ones.

This candle places the price of the pair above the 100- and 200-day MA lines. Simultaneously, the Stochastic RSI lines are rising steadily from the oversold region. Additionally, the latest price candle is already testing the 50-day MA line as resistance. Consequently, a breach of this resistance level may signal a continuation of the trend through the 2.0000 price level.

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