The GBPAUD prepares to decline – Forecast today – 25-4-2024

GBPAUD Price Analysis

The GBPAUD price confirmed its surrender to the domination of the bearish bias by providing negative closings below the major resistance 1.9425 recently, forming clear negative attack by settling near 1.9155.

• Also, 1.9300 level forms additional barrier against the current trades, while stochastic crawls below 50 level, these factors allow us to keep the negative overview, to expecting targeting 1.9050 as a first station, while the continuation of the negative factors might extend losses towards 1.8925 support line on the medium term basis.

The expected trading range for today is between 1.9220 and 1.9050.

Trend forecast: Bearish