The GBPAUD currency pair has recently encountered significant downward pressure, driven by a decline in the stochastic indicator towards the 20 level. This bearish momentum led to the pair struggling to break above the 1.9650 resistance level, ultimately resulting in clear losses as it reached 1.9060.
Currently, the 1.9340 level is acting as an additional barrier, indicating the potential for renewed bearish attempts. It is anticipated that the pair may target the 1.8965 level initially, with the possibility of extending losses towards 1.8740, representing the next major target for the bearish trend.
The expected trading range for today is situated between 1.9300 and 1.9120, while the overall trend is expected to remain bearish.