FX.co ★ providenci91 | GBP/AUD

Hello traders. Currency pair GBP/AUD. H1 chart. The trend on this timeframe has turned bearish, as indicated on the provided screenshot from the H1 chart, with sellers aiming to reach the 1.91011 mark at a minimum, and ideally break through and establish below the designated level. The task is quite simple, as the observed downward movement is a correction from a higher timeframe, and once it concludes, the upward movement is expected to continue. Therefore, it is important to consider this fact and try to determine the end of the downward movement. A potential helpful factor could be another price breakout above the cluster of EMAs, and if the price breaks through and consolidates above them, it would give buyers the opportunity to act more actively, pushing the price up to the 1.92534 mark. This could potentially mark the definitive end of the retracement downward and signal a continuation of the northward movement. Additionally, by analyzing buying patterns that the price will form, it is possible to determine the completion of the price drop and its transition to a further unstoppable rise.