GBPAUD: Continues Downward in Descending Channel

This chart presents a bearish outlook for the GBP/AUD pair. It is moving within a descending parallel channel, indicating a continuation of the bearish trend as observed on the 4-hour chart. Additionally, the RSI follows a similar descending path, reinforcing the channel's price movement and suggesting strong support for an impending rejection. Therefore, we can expect the price to drop again, potentially reaching levels from 1.92900 to 1.91000.

Trade closed: target reached:

position closed 1.91005.