GBPAUD may not be rallying now

FX:GBPAUD   British Pound / Australian Dollar
53 0 2
I'm keeping an eye on £aud. I was expecting price to rally at this level but I can't seem to find the buyers which makes me wonder where they are if there are any at all.

We could be in for a long way down to 1.6900 (400 pips) if price breaks below this support level . On the other hand, if we get a strong bullish set-up, then we could see price rally to 1.7750 (500 pips).

Either way, there could be a lot of potential on this pair.
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