Yesterday there was the first attempt of breakout, but it finished by failure. Today supply won and GBPAUD has broken support at 1.8510 in the early morning hours. Right now the price is continuing its downward movement and has reached 1.8400 support.
However demand’s bigger chance will be at lower limit of bearish regression channel where GBPAUD is moving for more than a month (you can see this channel at H4 time-frame ). This mentioned level is located at 1.8350. If price continues movement inside this channel you will have to keep an eye on levels: 1.8400, 1.8510, 1.8630, 1.8740, 1.8830.
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Time-frame H1
Time-frame H4
