Chart analysis GBPAUD bullish bias for the week of 23 MarchBritish Pound vs Australian DollarICMARKETS:GBPAUDTranquilo1154This is going to be a simple price action analysis, nothing complicated here. Daily chart This pair has been in a bearish trend for a long time, but let’s just scroll back to Apr 2025. After a few months of sideways movement, in Aug, price started declining and was held below the 50 ema (dynamic resistance) for the most part. But the 2nd week of this month saw a change happening – price formed a new low (yellow) and then a higher lows (blue). It is also noteworthy that the structure on the daily chart has been broken to the up side. H4 chart This shows the price action more clearly, recent price has moved higher and we can see higher lows and a higher high. Now, the 50 ema has started acting as a dynamic support and this price action changes my bias to bullish. Trade parameters Price is at the round number 1.900, so a break above, retrace and waiting to see further bullish evidence would be the preferred entry way to trade. The markets are currently unusually volatile, sudden unexpected spikes in either direction is common. Trading with smaller position size and giving extra space for stops is recommended. Target(s) depend on the trading style, but 1.9300 and 1.9500 seem logical. General comments Nothing in trading is ever 100%, so allowing price action to fully develop in your desired direction is necessary. The EURAUD chart looks very similar, so select the one that seems better to you. I don’t think this is a good time to double up the risk. This is not a trade recommendation.