As you can see from the attached 4 hour GBPAUD chart, the 20EMA did a fairly good job of holding up price since 05 November. Dips below the 20EMA were not deep and did not last long either, indicating that the bears had no strength.
This seems to be changing now as evidenced by the pin bar of Friday and price action after that, giving rise to the thought whether bears are trying to gain control.
I also took a look at 4 hour charts of GBPCAD and GBPUSD and I see the same thing happening. We seem to be making lower highs but no lower lows yet.
I am looking for a big move to the downside to give more credibility to this theory, but will remain alert to this possibility till then.