Week 30: GBPAUD - Price respecting trendline
As seen from the chart, price is making a lower low and lower highs and is in a downtrend. What I can see is also price is kind of respecting the trend line. From here, I think that price can make its way to 1.677. However price action is still bearish, and the bullish candle is not well supported by the volume we see. Therefore I expect another down move to 1.625 - 1.621 first.