SHORT SETUP FOR GBPAUDBearish Reversal Setup
The GBPAUD pair is showing signs of a potential bearish trend (CONFIRMED BEARISH BUTTERFLY ) reversal on the daily chart. The recent price action suggests that the pair may face downside pressure, presenting an opportunity for a short position.
Trade Parameters:
Entry Zone: 2.0499 – 2.0500
Take Profit 1: 2.0000
Take Profit 2: 1.9700
Stop Loss: 2.0650
Fundamental Outlook:
The Australian economy remains resilient, supported by strong commodity exports, particularly in iron ore and liquefied natural gas (LNG), which continue to bolster the country’s trade balance. Additionally, Australia’s labor market has shown steady employment growth, reinforcing consumer confidence and economic stability. The Reserve Bank of Australia (RBA) has maintained a cautious but optimistic stance, signaling confidence in the economy’s ability to withstand global uncertainties.
Given these factors, a potential reversal in GBPAUD could be driven by a stronger Australian dollar, as market participants may favor the AUD amid its economic resilience. If the price confirms a rejection from the 2.0500 level, further downside movement could be expected toward key support levels.
