GBPAUD may be set to bounce higher.

The GBPAUD RSI is very divergent on this last move lower to the 88.6% Fibonacci retracement from the July 2019 lows to March 2020 highs. The pair is consolidating currently below a downtrend line at the 1.8150 level but a break of this level would put the 1.8450 horizontal resistance into view very quickly as this pair looks set to squeeze higher.