GBP/AUD Free-Falling Towards 1.91700: Is it Inevitable?

Technical analysis indicates that GBP/AUD is currently on the verge of a free fall towards 1.91700.

Broken Uptrend: GBP/AUD recently broke below its long-term uptrend line, signaling a probable trend reversal to the downside.
Head and Shoulders Pattern: The GBP/AUD chart is currently forming a bearish head and shoulders pattern, providing strong confirmation for the continuation of the downtrend.
Rising Risk Indicators: Risk indicators like VIX are rising, indicating increasing market tension and potential for heightened volatility.

Key Support Levels:

1.91700: The first key support level lies at 1.91700. A breach of this level could send GBP/AUD plummeting towards 1.88000 and 1.85000.

1.88000: The next support level is located at 1.88000. If GBP/AUD breaks below 1.88000, it could head towards 1.82000 and 1.80000.

This analysis is provided for educational purposes only and should not be construed as investment advice.
Always conduct your own research and consult a financial expert before making any investment decisions.


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