GBP/AUD Is Moving to the Downside

GBP/AUD broke above the resistance at 1.6480, which coincides with the (MA)89 indicator on the four-hour time-frame and continued moving to the upside until it finally bounced off the resistance at 1.6765 without quite reaching the same indicator, but on the daily time-frame, which was at 1.6800. The pair formed a shooting star candlestick on the daily time-frame and started moving to the downside, and for now it is still quite bearish. Its closest target is at 1.6545 which is the (MA)89 indicator on the four-hour time-frame again, which from a resistance has become a support. A breakout below that level will likely lead to a further move to the downside towards 1.6480.