A Strong Buying Opportunity Emerging for GBP/AUD

The GBP/AUD pair is currently attempting to decline and test new demand zones formed following its recent upward wave. These new demand zones are critical for the pair to continue its anticipated bullish trend.

As the long-term outlook remains bullish, the focus should currently be on seeking buying opportunities.

Expected Targets

Should the pair test the new buying zones—near the 1.8960 level—we expect a resumption of the upward trend, targeting the 1.9030 and 1.9110 levels, respectively.

The expected bullish scenario would be invalidated if the price breaks below the identified demand zones and closes with a strong bearish candle.