GBPAUD: Curve Analysis

BEARS:
Based on the disparity in economic data between the UK and Australia, it indicates a potential decrease in the value of the Pound in relation to the Aussie Dollar.

If the sentiment has been oversold since June 10, 2024, it could indicate a possible correction, which would counter the downtrend and move towards the upside.

BULLS:
This analysis suggests that there are positive indicators pointing towards a possible recovery of GBP on the 1-day timeframe. However, it is important to note that this will only hold true if the Price Action closes above 1.8975.

If we observe an uptrend, it is likely that Price Action will revert back to the downtrend starting from the Resistance (Proximal) @ 1.9006 or slightly above at the Resistance (Distal) @ 1.9058.

SUMMARY
Based on the resistance levels, it is expected that the price action will continue to decline and reach the demand level around 1.8638.