I hope today or some days gbp/Aud trade trend sell
GBP/AUD had been in a tumbling mode this week, falling below the psychological 1.8000 zone for the first time since February. However, the slide was stopped near 1.7855 yesterday, and today, the rate rebounded somewhat. Although it could continue recovering for a while more, the price structure still suggests a short-term downtrend below the downside resistance line drawn from the peak of May 6th. Thus, we will stick to our guns that the outlook of this pair is negative.
As we already noted, the recovery may continue for a while more, perhaps for the rate to challenge the psychological zone of 1.8000 as a resistance this time. But if the bears decide to jump in from near that zone, then we may see another slide and another test near the 1.7855 hurdle. If that level fails to halt the slide, its break would confirm a forthcoming lower low and may set the stage for extensions towards the 1.7640 area