On the 4-hour chart, the GBP/AUD cross currency pair appears to still be dominated by Sellers, which is confirmed by its price movement which is moving below the WMA (30 Shift 2), but because the Stochastic Oscillator indicator is currently indicated in a BUY Crossing condition, in the near future GBP/AUD has the potential to strengthen where the 2.0679 level will be tested and as long as there is no breakout and close above the 2.0892 level, GBP/AUD has the potential to continue its weakening back to the 2.0252 level as its main target and 2.0122 as the next target if volatility and momentum support.
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