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

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.

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