GBP/AUD Falling Wedge Pattern – Reversal or Breakdown?

The GBP/AUD pair is currently trading inside a well-defined falling channel on the 15-minute timeframe. The price has been making lower highs and lower lows, respecting both the descending resistance and support trendlines. This setup suggests a short-term bearish structure, but the most recent bounce from the lower boundary raises the possibility of a bullish reversal from support.

🔁 Key Technical Levels

• Resistance Zone: Around 2.0995–2.1005 (top of the channel)
  
• Support Zone: Around 2.0930–2.0940 (bottom of the channel)
  

🔼 Bullish Reversal Scenario
The pair recently bounced strongly from the support zone, indicating buying interest near the channel bottom. If the price breaks above the descending resistance line with a strong bullish candle and follow-through, it would suggest a breakout from the falling channel. That could open upside potential toward 2.1020–2.1050, especially if volume supports the move.

🔽 Bearish Continuation Scenario
If the resistance holds and price starts to fall again, the pair could continue the downward structure, retesting the 2.0940–2.0930 support. A breakdown below that level would confirm a bearish continuation with possible targets near 2.0900 or lower.

🎯 Trade Plan Outline
Buy Setup:

• Entry: On confirmed breakout above resistance (~2.1005)
  
• SL: Below 2.0980
  
• TP: 2.1030 / 2.1050
  

Sell Setup:

• Entry: On rejection at resistance or confirmed breakdown below 2.0930
  
• SL: Above 2.1000
  
• TP: 2.0910 / 2.0885
  

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