FX.co ★ Technical Analysis of Intraday Price Movement of GBP/AUD Cross Currency Pairs, Wednesday December 04, 2024.

After successfully breaking out of its Descending Broadening Wedge pattern on the 4-hour chart, the GBP/AUD cross currency pair is now strengthening to test its Bearish Fair Value Gap area level, especially level 1.9674, as well as supported by confirmation of the appearance of a hidden deviation pattern, but as long as the strengthening that occurs in GBP/AUD cannot break through and close above level 1.9750, GBP/AUD still has the potential to weaken again down to level 1.9420 as its main target and if its Bear momentum and volatility support it, GBP/AUD is very likely to continue its weakening to level 1.9170.

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