I have been bearish on GBP/AUD so far in May, and the pair has indeed been falling. (gbpaud 4h chart, 5/13)However, I believe that we should expect a bounce now that 1) the pair has retraced 61.8% of the 1.7727-1.8290 rally.2) the pair is just above a previous support/resistance pivot area which is around 1.79.3) price is testing the 200-day SMA.4) the oscillators in the 4H chart is approaching oversold condition. 5) The daily stochastic is at 20, while the RSI is approaching 40. This is oversold in a neutral or bullish market. The daily chart reflects a market that has shifted from bullish to neutral, and maybe slightly bearish. (gbpaud daily chart, 5/13)With the shift in trend in mind, the anticipated bounce should be limited in the short-term towards the 1.8075 high of the week, up to the 1.81 handle.