GBP/AUD Is Testing the Support at 1.6610

GBP/AUD has been moving to the upside for the past month or so after the pair ended, for now at least, its long-term general downwards trend. That said, it also reached a significant resistance level at 1.6975, which coincides with the (MA)89 indicator on the daily time-frame, formed a shooting star candlestick on the four-hour time-frame below that resistance and started moving to the downside. Currently the pair is testing the support at 1.6610 which coincides with the same indicator on the four-hour time-frame again, and if a breakout below that level is confirmed we can likely expect a further move to the downside toward the next significant support level at 1.6500.