GBPAUD: Ongoing Complex Correction Within Larger Bearish TrendGreat British Pound vs. Australian DollarFX:GBPAUDew-forecastGBPAUD broke below the base channel support at the start of 2026 signaled a meaningful structural shift. This breakdown suggests that a bearish impulsive phase may now be in play, increasing the probability of further downside continuation within a projected five-wave bearish impulse. As long as price remains below key resistance, the broader bias remains bearish, with expectations of additional weakness within wave 5 after the current wave 4 correction. From a shorter-term perspective, GBPAUD appears to be developing a higher degree wave 4 corrective structure within the current bearish cycle. Price action is likely forming a three-wave corrective pullback within subwave (b), with potential for a retracement toward the 1.9055 support area. This zone may act as a temporary reaction level before the market attempts another upward leg. Following this pullback, an additional and final push higher is still possible in subwave (c) of wave y, completing a larger wxy corrective structure within higher degree wave 4. This final leg could target the 1.9400 resistance level, where stronger selling pressure is expected to re-emerge. Overall, the market remains in a corrective-to-bearish transition phase, with short-term upside retracements seen as corrective within a broader weakening structure.