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GBP/AUD Continuation of the Downtrend

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GBP/AUD Technical Analysis

  • Move down below M L3
  • New bearish move
  • Q L3 is the first support
  • M L4 possible
  1. Order block
  2. Swing high
  3. Entry zone
  4. 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.ツ The swing high is at the Q H3 and the natural move should be to the camarilla pivot Q L3.ツ The break of the Q L3 pivot should move the market further down to M L4 pivot. 1.8288 is the target.ツ However, it will depend a lot on the continuation of the trend and the AUD strength which is gaining momentum.