On H4 chart the currency pair GBPAUD formed a bearish pin bar, which may be a signal for price action traders. It is worth noting that the pinbar appeared in a not accidental place, because it formed on an important resistance level at 1.6425.
Considering the above, there is a high probability of declines, where the immediate goal may be support 1.6260.
Traders can also look for a more proven sales opportunities, eg. on the M30 chart. A potential signal will be in such a situation a sequence of lower low – lower high after breaking the line of upward trend visible in the chart below.
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