FX.co ★ Technical Analysis of Intraday Price Movement of GBP/AUD Cross Currency Pairs, Wednesday October 09, 2024.

Currently on the 4-hour chart, the GBP/AUD cross currency pair appears to be moving up and up, which is confirmed by the appearance of the Bullish 123 pattern followed by the Bullish Ross Hook (RH) and currently the price movement is moving above the EMA 21 and the appearance of the Descending Broadening Wedge pattern and the deviation between the price movement of the currency and the MACD Histogram indicator gives a strong indication that GBP/AUD in the near future has the potential to strengthen up to test the level of 1.9481 if it is successfully broken upwards and there is no weakening correction that breaks and closes below the level of 1.9350, then GBP/AUD will continue to strengthen to the level of 1.9763.

(Disclaimer)