The GBP/AUD bulls are currently defeated as the price moves heavily below all supports. Brexit caused an interim weakness in the pair.
If we see a retracement towards 1.9306 we could see the next drop towards 1.9250 and below. The 1-2-3 pattern is in play as the trend has changed to the downside and the entry has been activated. The entry is at the POINT 2 break. Targets are 1.9250, 1.9230 and 1.9197. Watch for 4h resistance around 1.9200.
The Analysis has been done with the CAMMACD.Core and Sit Systems