Hello everyone and profitable trading! For the GBPAUD pair, we are trading at the level of 2.0672 and after an unsuccessful attempt to break above the resistance at 2.0829, this is just the beginning of the upcoming price drop, in my opinion. At the moment, the target for the decline on the four-hour timeframe is the level of 2.0580 where the drop may occur and stop today. However, overall on the daily timeframe, the GBPAUD pair has formed a divergence on the rise, a false breakout of the trading range, and a subsequent return back within its boundaries. Therefore, I believe that now we have entered a cycle of price decline in the GBPAUD pair on the daily timeframe and we will fall much below the support at 2.0580.
