GBPAUD 8 Aug 2024

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GBPAUD – 8 Aug 2024

GBPAUD 8 Aug 2024

GBPAUD 8 Aug 2024 On the daily timeframe, GBPAUD appears to be still declining since failing to break the resistance line earlier this week. The pair is at 1.93564 and still above the kumo cloud, but the stochastic chart shows a decline and is at level 20. There is a possibility of a trend reversal due to oversold if the bullish momentum is strong enough. This is a potential trend reversal that traders need to be aware of, as oversold levels on the stochastic are often an early indication of a change in market direction.

August 8, 2024

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