Riding the GBPAUD Wave: Insight into Upcoming Price Movements

Trend Analysis: We're observing a bearish momentum with a pattern of Lower Highs (LH) and Lower Lows (LL). Traders might consider following the trend by selling on LH formations and looking for buy opportunities at potential Higher Low (HL) setups for counter-trend strategies.

Key Zones:

Resistance Zone: The pink area has consistently pushed prices lower, making it a crucial level for potential sell entries.
Support Zone: The grey area is where buyers have previously shown interest, representing a possible area for buy entries, particularly if signs of a bullish reversal emerge.
Trading Strategy: Current strategies include buying on confirmations of HL within the support zone and selling on bearish signals within the resistance zone. Ensure proper risk management and wait for clear confirmation signals before entering trades.

Market Sentiment: Keep in mind the bearish bias but stay alert for any signs of trend reversal or unexpected market moves, particularly around key economic announcements that could impact GBP and AUD pairs.

Risk Management: As always, set your stop losses and take profit levels according to your risk tolerance and trading plan. It's essential to manage risk effectively, especially in volatile markets.

This analysis aims to provide an insight into the possible price movements based on the current market structure and key levels. Stay tuned for updates and adjust your strategies according to market changes.