GBP/AUD Continuation of the Downtrend
GBP/AUD Technical Analysis
- Move down below M L3
- New bearish move
- Q L3 is the first support
- M L4 possible
- Order block
- Swing high
- Entry zone
- Target
GBP/AUD has another bearish momentum. We can see the strength of Asian Pacific currencies both AUD and NZD. The order block is showing a rejection of the GBP/AUD and it’s mostly due to AUD strength. The swing high is at the Q H3 and the natural move should be to the camarilla pivot Q L3. The break of the Q L3 pivot should move the market further down to M L4 pivot. 1.8288 is the target. However, it will depend a lot on the continuation of the trend and the AUD strength which is gaining momentum.