Chart the Market (07/10/2026)
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Chart the Market (07/10/2026)

Published: 7 October 2026,06:33

Published: 7 October 2026,06:33

Chart The Market

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GBPUSD,  H4:                                                               

GBP/USD has traded largely sideways before forming a diamond-shaped consolidation pattern. The latest price action shows the pair breaking above the formation, providing an early bullish signal and suggesting that buyers are beginning to regain control.

Immediate resistance is located at 1.3285, which represents the next critical test for the emerging recovery. A decisive break and sustained close above this level would confirm the bullish breakout and could pave the way for a broader upward move.

Conversely, a rejection from 1.3285 followed by a move back inside the diamond formation would raise the risk of a false breakout. Such a development would weaken the bullish outlook and leave GBP/USD vulnerable to renewed selling pressure.

Resistance Levels:1.3285, 1.3395

Support Levels:1.3175, 1.3050

AUD/JPY price chart dated 07 October 2026 showing bullish signal, with horizontal support/resistance lines and RSI/MACD indicators.

AUDJPY,  H4

AUD/JPY remains within a long-term downtrend, characterised by a persistent sequence of lower highs and lower lows. Although the pair is currently staging a technical rebound, the broader price structure continues to favour the downside.

Attention is focused on the Fibonacci retracement level near 111.10, which represents a key resistance area and an important test of the recovery’s strength. As long as AUD/JPY remains within its prevailing downtrend, selling pressure may re-emerge as the pair approaches this threshold.

A rejection from 111.10 would suggest that the rebound is corrective, reinforce the bearish outlook and raise the prospect of a retest of the previous low—or potentially a move below it. Conversely, a decisive break and sustained close above this resistance would weaken the current bearish structure and signal that a broader recovery may be developing.

ResistanceLevels:111.25, 112.55

Support Levels:110.05, 108.80

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