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GBPAUD 1 April 2024

GBPAUD 1 April 2024 In analyzing GBPAUD on the H1 timeframe, there are some important aspects to note. The pair has experienced a trend reversal after touching the support line, which indicates the potential for a rebound towards the R1 resistance line. However, keep in mind that the MACD indicator shows the pair positioned below the 0.0 level, signaling continued bearish momentum. This could be a signal that despite the short-term trend reversal, the bearish trend may still be dominant in the longer term. Traders should carefully consider the risks and potential gains of any positions taken, and use strict risk management to mitigate potential losses. Stay alert to price movements and look for additional confirmation before making further trading decisions.

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