GBPAUD – Wave Analysis OutlookGBP/AUDOANDA:GBPAUDsaravanarmGBPAUD has been sliding lower after completing a broad corrective structure from its recent highs. The decline has already pushed into the –0.236 Fibonacci extension (2.0211), which often signals the potential for continuation if momentum holds. At this stage, I’ll be watching how price behaves around the current consolidation. If price stalls and confirms rejection here, I’ll be looking for short setups, targeting the 1.98 zone as the next major objective. The larger wave count suggests room for further downside toward deeper Fibonacci projections (1.9567 / 1.9124 levels) if bearish pressure continues. However, a corrective bounce can’t be ruled out before continuation. 👉 Plan: If consolidation holds, I’ll be positioning for shorts into 1.98. ❌ Invalidation: A sustained break back above 2.05 would weaken the bearish case and open the door for a bullish correction higher. ⚠️ Disclaimer: This outlook reflects my personal wave analysis and is for educational purposes only, not financial advice.