GBPAUDBritish Pound/Australian DollarFX:GBPAUDPierreolivierla 1. **Uptrend Channel Broken** * Price had been moving inside an ascending channel. * Recently, the channel was broken to the downside → first signal of weakening momentum. 2. **Resistance Rejection** * Price tested a strong resistance zone near **2.0976 – 2.1000** and got rejected twice. * This double rejection shows sellers are defending that level. 3. **Trend Weakening** * After the rejection, the uptrend lost steam. * Price slipped under the 100 SMA (2.0886), which is now acting as resistance. * A bearish channel has formed. 4. **Breakout + Retest** * Price broke below support around **2.0870 – 2.0830**. * It retested this zone and failed to recover, confirming it as new resistance.