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GBPAUD 8 Dec 2023

GBPAUD 8 Dec 2023 on the Weekly timeframe, it can be seen that the pair is still holding above the kumo cloud on the ichimoku indicator despite being in a sideways moving. Being at the price position of 1.90319 the pair is still unable to continue a significant bullish trend. If referring to the MACD indicator, the chart still shows a decline towards the 0.0 level. By looking at the presence of the tenkan-sen below the kijun-sen, it indicates that bearish may occur. Therefore, go-short could be an option when bearish signals are seen. But otherwise if the pair is able to continue to bullish and rise, then go-long is an option. Keep an eye on the market movements and calculate all possibilities before making a trading decision.

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