04.11.202406:26 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of GBP/AUD Cross Currency Pairs, Monday November 04, 2024.

Relevance up to 21:00 UTC--5

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

With the appearance of hidden deviations between the price movement of the GBP/AUD cross currency pair with the Stochastic Oscillator indicator on its 4-hour chart plus confirmation with the appearance of the Bearish 123 pattern followed by the Bearish Ross Hook (RH) especially the price movement moving below the WMA 30 Shift 2 which also has a downward slope, then in the near future GBP/AUD has the potential to weaken down to the level of 1.9589 and if this level is successfully broken then GBP/AUD has the potential to continue its weakening to the level of 1.9425 as its main target and if the momentum and volatility support then 1.9191 will be the next target to be aimed for but if on the way to these targets suddenly there is a strengthening correction to the current GBP/AUD especially if it breaks through and closes above the level of 1.9832 then all the weakening scenarios that have been described will become invalid and canceled by themselves.

(Disclaimer)

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.