GBP/AUD – Double Top & Bearish Reversal Structure
Price is showing a clear double top formation near weekly mid-channel resistance, signaling buyer exhaustion after an extended bullish move.
The second peak failed to create meaningful continuation, while RSI printed lower index — confirming weakening momentum into resistance.
Structure is now pressing against neckline support, with sellers attempting to take control.
📝 Key confluences:
🔻 Double top rejection at resistance
🔻 Bearish H4 RSI
🔻 Weakening H1 momentum + MA support loss
🔻 Neckline under pressure
A confirmed neckline breakdown could trigger continuation toward:
◘ 1.8700 support zone
◘ 1.8640 bearish projection target
📉 Bias remains bearish unless price reclaims the double top highs decisively.
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