GBPAUD has reached 1.8540 level and since the beginning of April there wasn’t new low. Current downtrend is lasting for a long time and since more than a two months there wasn’t any bigger rebound. At the chart below (time-frame H4) we can see bearish regression channel in which price moves. Breaking above 1.8850 will be first signal that rebound has started.
Sometimes moves at GBPAUD are very sharp. Due to this it is worthto see the current channel and wait for its crash. If mentioned rebound occurs nearest supports will be located at: 1.9040, 1.9280, 1.9480, 1.9810. Alternatively nearest supports: 1.8540, 1.8400, 1.8160.
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