GBP/AUD Bounced off from 1.8505

After moving to the upside for the past two weeks GBP/AUD finally found some resistance at 1.8505 and bounced off from that level after forming a pair of candlesticks signaling for such a reversal, namely a hanging man candlestick and a shooting star candlestick, both on the daily time-frame. The pair continues moving to the downside for the moment and it will likely break out below 1.8260. If or when that happens the pair will probably continue falling towards the support at 1.8150, which coincides with the (MA)89 indicator on the four-hour time-frame. A breakout below that level could lead to another move to the downside towards 1.8000.