Expected Scenarios for the Medium- and Long-Term Movement of the GBP/AUD Pair

The GBP/AUD pair continued its decline and movement within the descending channel. The pair reached strong buying pressure near the 1.8903 level, coinciding with the lower boundary of the descending channel.

The current levels are considered strong and important rebound points for the pair, from which we may see another upward move.

Expected Scenarios

The first scenario is an upward move, as mentioned. The current levels are strong, and we may see a return to the upward trend towards the upper boundary of the descending channel.

The second scenario is a continuation of the decline, but this requires a break below the current levels and a daily close below them. If this condition is met, we expect to see a decline to the next levels near 1.8654.