GBP/AUD continues to fall inside the clear daily Falling Wedge chart pattern which was recently identified by Autochartist. Autochartist rates the quality of this Falling Wedge at the 4-bar level – which reflects the slow Initial Trend (2 bars), lower Uniformity (2 bars) and significant Clarity (7 bars). GBP/AUD is expected to fall further inside this Falling Wedge – in line with the earlier downward reversal from the major resistance area shown below.
