Based on my Analysis, price has been hovering around this range for quite sometime, but a lower high has been formed on H1 timeframe in confluence with a potential downwards trendline.
If price were to reject at this area, it's safe to say that GBPAUD is going to fall.
I'm looking for this good level of support (which has been holding for quite sometime now) to break in which price will freefall likely to the previous level of support (Full TP).
I know some of y'all may look at this as a potential bullflag with the larger timeframe, but if we were to zoom down into smaller timeframe, it doesn't look like there are alot of buying pressure on this pair at the moment.
Let's see how price reacts to these level when the market opens next week.
For now, this looks pretty bearish to me.
If price were to reject at this area, it's safe to say that GBPAUD is going to fall.
I'm looking for this good level of support (which has been holding for quite sometime now) to break in which price will freefall likely to the previous level of support (Full TP).
I know some of y'all may look at this as a potential bullflag with the larger timeframe, but if we were to zoom down into smaller timeframe, it doesn't look like there are alot of buying pressure on this pair at the moment.
Let's see how price reacts to these level when the market opens next week.
For now, this looks pretty bearish to me.