GBPAUD Chart Technical Outlook the medium-term focus is on the downside
The medium-term focus remains on the downside with the weekly chart highlighting a Bat formation completing at 1.6370. The four-hour chart highlights the breakout of a bearish ending wedge formation. The measured move target of 1.9183 is yet to be achieved. With bespoke support located at 1.9195 and 1.9178, we could see a corrective bounce from this support zone. I would look for a rally as an opportunity to get short with the potential building of a bearish head and shoulders pattern.
