GBPAUD: Detailed Technical Outlook 🇬🇧🇦🇺

Aug 18, 2022

GBPUSD is currently consolidating within a horizontal trading range on a daily.
1.2 - 1.205 is its support; 1.225 - 1.23 is its resistance.

Taking into consideration that the market is trading in a global bearish trend, the pair will most likely drop soon.
To catch a bearish continuation, wait for a breakout of the support of the range (you need a daily candle close below) to confirm the breakout.

Then the pair will most likely drop to 1.1825 level.

Alternatively, a bullish breakout of the range's resistance may trigger a bullish continuation.

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