GBPAUD Showing Signs of Weakness at Resistance
GBPAUD is testing a key daily resistance area, and the structure on the 4-hour chart confirms selling pressure. I'm watching for a move lower.
GBPAUD Structure
I see GBPAUD approaching a significant daily resistance level that has held price back before. On the 4-hour timeframe, there is a clear bearish change of character, which tells me sellers are stepping in with conviction.
From here, I expect the pair to retrace and continue lower. The risk/reward is not compelling enough to chase the move, but I am prepared to look for a short entry on a confirmed breakdown or a retest of the zone.
I keep my position sizing modest and wait for price to confirm the bias before committing capital.

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