GBPAUD potential drop and continuation of the down trend

27 Eyl

GBPAUD has been respecting the upward trendline for over a month but now appears poised to break through, potentially triggering a significant sell-off. On the daily timeframe, the price action looks quite bearish. The formation of a consolidation zone just above the trendline suggests the market is preparing for a potential breakout. Consequently, the market could drop from this resistance zone toward lower levels. The target is the support level at 1.93080

3 Eki

İşlem kapandı: hedefe ulaştı

Price moved exactly as expected. Over 300 pips drop since the analysis was published :)