GBPAUD broke out (up) of a significant zone this past week on the daily time frame. I expect a retracement back to the 0.382 of the Fibonacci. If this retracement terminates at 0.382 level with a break of structure to the upside, this will confirm the strength of the break that happened on the daily. The same 0.382 area was acting as a support that was broken and so should serve as a further confirmation. Once this happened, we should look to buy and target the next significant point on the daily. But for now, we wait to see what happens at that 0.382 zone.