GBP/AUD setting for lower levels

Price found resistance at 1.67-ish level. Since then we saw a reversal and crossovers with many moving averages. I will short this position if price falls below 1.649 level. Stop will be at 1.6550 and profit target at 1.620. This gives me sufficient P:R ratio of 4.75.

From fundamental perspective one can favor the downside since China beated almost every analyst consensus number on todays news releases. (Strength for AUD)