GBPAUD Analysis
GBPAUD rebounding from the old broken resistance which act now as a new support area
After the confirmation of the Upward movement, GBPAUD Buy signal was given.
GBPAUD Update
GBPAUD is Consolidate new support area, which leads to the SL price. However, GBPAUD still have chances to rebound from the new support area
Reason: Due to the release of more economic news mentioned below, the market is not making technical movements at this time.
Why GBP is Weaker
UK Economic Concerns : Slower economic growth and persistently high inflation are weighing on investor confidence in the UK economy.
Budget Anxiety : Upcoming tax increases and spending cuts in Chancellor Rachel Reeve’s budget are causing uncertainty in financial markets.
Public Finances : Concerns over the UK’s public debt and deficit are further weakening the Pound.
Inflation & Rate Uncertainty : High inflation and uncertainty around the Bank of England’s interest rate decisions are adding to the pressure on GBP.
Additionally, tomorrow’s UK Consumer Price Index (CPI) Year-on-Year release could have a significant impact on GBP’s movement.
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