GBPAUD has been rising since the start of the year, but it appears that the move in 2025 may represent a fifth wave of an impulse, as price broke out of a triangle at the beginning of the year. Despite the strong push higher, it’s important to keep in mind that triangles typically appear as the final part of a higher-degree trend. Therefore, the current bearish reversal on the daily chart is not surprising and ideally could bring prices much lower, into wave C or wave 3, especially if price breaks below the channel support line near the 2.04 area. We see room for a move toward 1.96.
On the intraday basis, GBPAUD turned nicely and sharply lower from the projected resistance after we identified an ABC correction within the downtrend. As a result, further weakness is expected, particularly if price drops below the channel support line and the 2.00 level, which would act as bearish confirmation.
On the intraday basis, GBPAUD turned nicely and sharply lower from the projected resistance after we identified an ABC correction within the downtrend. As a result, further weakness is expected, particularly if price drops below the channel support line and the 2.00 level, which would act as bearish confirmation.
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