Bearish Setup Builds in GBP/AUD

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Bearish Setup Builds in GBP/AUDBritish Pound / Australian DollarFOREXCOM:GBPAUDFOREXcomSitting in a descending triangle pattern, a downside break of 2.0300 in GBP/AUD may elicit further selling, putting lower levels in play. Should we see a decisive break of 2.0300, shorts could be established with a tight stop above for protection, targeting 2.0065, which the price tagged on multiple occasions earlier this year before staging a decisive break higher. While bearish momentum is not strengthening, signals from RSI (14) and MACD both favour playing the pair from the short side, sitting below 50 and 0, respectively. Good luck! DS