GBP/AUD Technical Analysis - 2H Chart Bearish Breakout Potential

Hey traders, here’s the scoop on GBP/AUD:

The price is currently trading around $1.927190, just below the 21 EMA (yellow line at $1.927662), indicating potential bearish momentum.
The price is hovering near an upward trendline, which could act as support.
Key Levels:
Support: $1.924518, $1.916509
Resistance: $1.933674

Entry Strategy:
Short Position: Look for a pullback to the 21 EMA ($1.927662) and ensure a strong bearish candle closes below this level. That’s your potential entry point confirming bearish momentum.
🎯 Profit Targets:
Target 1: $1.924518
Target 2: $1.916509

Stop-Loss: Set your stop-loss just above $1.927662 to maintain a solid risk/reward ratio. This will protect you in case the market decides to turn bullish.
Monitor price action closely. Trade smart!