GBPAUD: What's next?

GBPAUD, H4

The asset is moving in an upward channel. Currently, the price is at the channel's lower boundary, and the support level is testing at 2.0896. The Momentum indicator has crossed the 100 level from top to bottom.

If the asset fails to break through the support level, growth to 2.1008 will resume.

However, if the price manages to break through the support level and exit the upward channel, a decline to 2.0806 will begin.

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Author: FBS Analyst Team

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