After identifying a break of structure on the daily time frame we can determine potential buy setups for the GBP/AUD currency pair.
This break of structure coincides with an institutional round number at 1.95000 which adds further significance to the bullish potential.
Additionally a bullish order block on the 4-hour timeframe further supports the notion of a potential bullish move.
Furthermore it is important to consider the diagonal breaking attempt of structure on the same 4-hour timeframe.
This diagonal breaking attempt suggests that the currency pair may face resistance or struggle to break through certain price levels.
However given the overall sideways trend there is still potential for the GBP/AUD pair to exhibit bullish behavior.
Overall based on the observed technical analysis there are potential buy setups for the GBP/AUD pair.
However like any trading decision it is crucial to consider other market factors implement risk management strategies and continuously monitor the market to adjust trading positions accordingly.
This break of structure coincides with an institutional round number at 1.95000 which adds further significance to the bullish potential.
Additionally a bullish order block on the 4-hour timeframe further supports the notion of a potential bullish move.
Furthermore it is important to consider the diagonal breaking attempt of structure on the same 4-hour timeframe.
This diagonal breaking attempt suggests that the currency pair may face resistance or struggle to break through certain price levels.
However given the overall sideways trend there is still potential for the GBP/AUD pair to exhibit bullish behavior.
Overall based on the observed technical analysis there are potential buy setups for the GBP/AUD pair.
However like any trading decision it is crucial to consider other market factors implement risk management strategies and continuously monitor the market to adjust trading positions accordingly.
Trade closed: stop reached