GBP/AUD 4H Chart: Falling Wedge

Leaving long-term perspectives aside, the outlook in the short run in deemed to be bullish, mainly because of the presence of the down-trend support at 1.7778. Still, we must note that this line failed to initiate a sustainable recovery in the last days of March. At the same time, SWFX traders' sentiment is strongly bullish, since 73% of open positions are long.