GBPAUD Approaching Support: Will Price Rebound to 1.9890?

GBPAUD is approaching a key support zone. Previously, this area has acted as strong demand, leading to significant bullish reversals. The ongoing bearish momentum suggests sellers are driving the price toward this level, where buyers may step in.

A bullish confirmation, such as a strong rejection pattern, bullish engulfing candles, or long lower wicks, would increase the probability of a rebound. If buyers regain control, the price could move toward the 1.98900 level. However, a breakdown below this zone could invalidate the bullish outlook, opening the door for further downside.

This is not financial advice but rather how I approach support/resistance zones. Remember, always wait for confirmation, like a rejection candle or volume spike before jumping in.

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Best of luck , TrendDiva