On September 25 in the analysis, I wrote: “break below 2.1600 will take price first to the resistance level at 2.1500 and then to 2.1400”. The nearest target of falls that I pointed also has been broken below, but bulls are trying to achieve at least small rebound. The current attempt of rebound from this level is much weaker that it was on September 16th. On time-frame H1 a downtrend channel is visible, which keeps the price capped and lower limit of this channel is at 2.1230. This level may be tested before price will rebound.
Wider view, time-frame D1
In the long-term GBPAUD is in an uptrend. But in the nearest future the trend line, which is located at 2.0150, can be tested. But earlier, the bears will have to break below the supports on levels 2.1430, 2.0880, 2.0520.
