GBPAUD has been showing a strong support level above 1.8900, preventing significant downward movements. Despite trading below a downward sloping trendline, the pair has not yet broken below the key support area. The RSI and MACD indicators are signaling negative momentum, but they also suggest that it may be premature to anticipate further declines at this point.
If GBPAUD breaks below 1.8900, it could open the door for bears to push the pair lower towards levels around 1.8580 and 1.8395. On the other hand, a rebound above 1.9350 could signal a shift in momentum, potentially inviting more bulls into the market. A move above this level could lead to a climb towards the key resistance zone of 1.9515.
In summary, GBPAUD is currently holding above the crucial support zone of 1.8900, and the next significant move will depend on whether the pair breaks below this level or manages to rally above 1.9350 to attract more buying interest.
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