GBPAUD is currently in a bearish phase, showing a clear impulsive decline that suggests the market is unfolding within wave 3 of a larger five-wave bearish cycle. This structure indicates that downside momentum is still dominant, and further weakness is likely before any meaningful recovery.
Price action is now approaching the final subwave (v) of wave 3, with a potential completion zone around 1.85–1.82. This area may act as a short-term support level where selling pressure temporarily exhausts.
Once wave 3 completes, a wave 4 corrective rebound is expected. This pullback could retrace price back toward the 1.93–1.94 resistance zone, which now serves as a key area for potential rejection.
After the correction, the broader bearish structure remains intact, suggesting a final wave 5 decline may follow, potentially revisiting or extending below the 1.82 region.
Overall, the trend remains bearish, with short-term corrections offering temporary relief before the next downside leg resumes.
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