The GBP/AUD pair is trading in an uptrend, forming higher highs and higher lows, and the current pullback is considered a corrective move within this upward trend.
The level of 2.05763 is seen as a positive support level for the pair, where a potential rebound to the upside could occur, targeting the 2.07442 level.
However, if the price falls below the 2.05110 level and closes a 4-hour candle beneath it, the bullish scenario would be invalidated, and the trend would shift from bullish to bearish.
Note:
Traders should monitor economic news and data related to the Australian dollar and the British pound, as their outcomes can significantly impact the movement of this currency pair.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.