FX.co ★ GBP/USD

GBPUSD 24-Hour Analysis: In ongoing research, we are examining how the price of the AUD/USD currency pair has changed. The US dollar's comeback, bolstered by rising Treasury rates, caused the momentum of the AUD/USD pair to weaken and turn negative throughout the US session, sliding below 0.70121 despite touching a five-month high of 0.70331. Thursday's US statistics, which showed a higher-than-expected rise in unemployment claims and flat sales of unfinished houses in November, had little impact on market players. The important US jobs figures will be the main topic of discussion next week. Even while the USD's characteristics are still crucial for the AUD/USD pair, low market activity might lead to unanticipated changes in the absence of obvious drivers. By the end of 2025, trade incentives could decline due to these conditions and wider spreads. The daily chart shows how the Australian dollar interacts with strong resistance around 0.70320, suggesting a decline toward the 0.69431 support level. This retracement points to a potential buy entry above 0.69431, opening the door for the uptrend to continue. However, this scenario requires overcoming the strong resistance at 0.70320, establishing a position above it, and creating a buy entry point. A reversal around 0.70320 may signal the start of a downtrend, but as of right now, the uptrend is still dominating, and there are important levels ahead that need to be seen. Bears on the AUD/USD pair were active last Friday, which resulted in a breach below the support level at 0.69861. The week's finish below 0.69861 lays the foundation for a new wave of sales at the start of the new trading week in 2024, and the higher volumes during the US dollar's rise suggest a possible significant bear participation.