Triangle break triggers GBP/AUD short caseBritish Pound / Australian DollarFOREXCOM:GBPAUDFOREXcomGBP/AUD looks set to close beneath the psychologically important 2.000 level for the first time since early 2025, differentiating this breakdown from the four failed attempts beforehand. Having coiled within a descending triangle over the past six weeks, convention suggests we may see an extension of the move into the mid 1.90s, especially with momentum indicators on board. Should GBP/AUD hold beneath 2.0000 over the Asian and early European sessions on Friday, consider initiating shorts beneath the level with a stop above for protection. The pair tends to gravitate towards big figures, so keep 1.9900, 1.9800 and 1.9600, along with 1.9750, in mind as targets, depending on the risk reward you are looking for. Given where the triangle formed, it suggests 1.9600 could be in play. Mirroring the price action, momentum indicators are singing from the same bearish hymn book with RSI (14) trending lower beneath 50, indicating building downside strength. MACD is delivering a complementary message, staging a bearish crossover of the signal line in negative territory before pushing lower. Shorts are therefore preferred over longs. From a fundamental perspective, a risk positive tone in markets should support continued downside, so further gains in cyclical assets such as stocks and metals should help promote downside in the pair. You may therefore want to keep an eye on Iranian related headlines for anyone considering the setup. Good luck DS