The GBP/AUD pair is currently trading inside a well-defined falling channel on the 15-minute timeframe. The price has been making lower highs and lower lows, respecting both the descending resistance and support trendlines. This setup suggests a short-term bearish structure, but the most recent bounce from the lower boundary raises the possibility of a bullish reversal from support.
🔁 Key Technical Levels
🔼 Bullish Reversal Scenario
The pair recently bounced strongly from the support zone, indicating buying interest near the channel bottom. If the price breaks above the descending resistance line with a strong bullish candle and follow-through, it would suggest a breakout from the falling channel. That could open upside potential toward 2.1020–2.1050, especially if volume supports the move.
🔽 Bearish Continuation Scenario
If the resistance holds and price starts to fall again, the pair could continue the downward structure, retesting the 2.0940–2.0930 support. A breakdown below that level would confirm a bearish continuation with possible targets near 2.0900 or lower.
🎯 Trade Plan Outline
Buy Setup:
Sell Setup:
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Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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🔁 Key Technical Levels
- Resistance Zone: Around 2.0995–2.1005 (top of the channel)
- Support Zone: Around 2.0930–2.0940 (bottom of the channel)
🔼 Bullish Reversal Scenario
The pair recently bounced strongly from the support zone, indicating buying interest near the channel bottom. If the price breaks above the descending resistance line with a strong bullish candle and follow-through, it would suggest a breakout from the falling channel. That could open upside potential toward 2.1020–2.1050, especially if volume supports the move.
🔽 Bearish Continuation Scenario
If the resistance holds and price starts to fall again, the pair could continue the downward structure, retesting the 2.0940–2.0930 support. A breakdown below that level would confirm a bearish continuation with possible targets near 2.0900 or lower.
🎯 Trade Plan Outline
Buy Setup:
- Entry: On confirmed breakout above resistance (~2.1005)
- SL: Below 2.0980
- TP: 2.1030 / 2.1050
Sell Setup:
- Entry: On rejection at resistance or confirmed breakdown below 2.0930
- SL: Above 2.1000
- TP: 2.0910 / 2.0885
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Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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🔗 Website: bit.ly/tradzoopage
📣 Telegram: t.me/tradzooIndex
📲 Android App: bit.ly/TradZooApp
📲 Forex App:tradzoo.com/forex/download
🍎 iOS App: bit.ly/TradZoo-iOS-App
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.