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GBP/AUD Breakout Below 1.8495 As Selling Is Underway

GBP/AUD technical analysis

  • Bullish trend but resistance is reached.
  • The price has reached historical sellers.
  • Rejection below W H5.
  • W H4 is possible target.

  1. Support order block.
  2. Historical sellers at order block.
  3. Low.
  4. Fresh sellers.
  5. Breakout.

GBP/AUD has formed the 2-4 retracement which is called “The Valley”. We should see a move down as today it’s profit-taking day. We can see historical sellers and the expectation is that the price should be moving down without move up. But only if the breakout line (blue line in the chart) is taken out. So below 1.8495 we should see a move down. The main target is W H4 1.8426. GBP/AUD is also showing the triple top resistance.

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