GBPAUD is approaching a major resistance zone, an area where sellers have consistently stepped in, leading to notable reversals in the past. This level is marked by strong selling interest and historical price reactions, increasing the likelihood of a bearish move if sellers regain control.The current price action suggests that if the pair confirms resistance through bearish engulfing candles, long upper wicks, or increased selling volume, we could see a downward move toward the 1.99200 level. However, if the price breaks above this zone, the bearish outlook could be invalidated, opening the door for further upside.
Just my take on support and resistance zones—not financial advice. Always confirm your setups and trade with solid risk management.
Best of luck!
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