The Australian pound pair is trading inside a bearish price channel on the four-hour frame, rebounding from the upper limit of this channel, which represents a strong downtrend level, and the pair is now trying to complete the extended shark harmonic model, which may target the levels of 1.8850 to complete this model, and before that the levels of 1.8935 as the first target.

This scenario fails if the 1.9100 levels break higher.