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Pardon my messy chart, hope you will grasp my idea.
The GBPAUD according to my chart, broke out of a falling wedge and it is trying to retest. I also see an Inverse Head and Shoulder forming, this could be a reversal from the chaotic downtrend it has been locked in. I also wanted to be sure of this idea, so I included the Fib retracement and it confirmed my thoughts. The key fib retracement we should be paying attention to is the 0.382 which coincidentally happens to be our neckline/Support. If price is rejected here, It will signal a reversal and my Signal will be activated. Thanks for reading!!
Pardon my messy chart, hope you will grasp my idea.
The GBPAUD according to my chart, broke out of a falling wedge and it is trying to retest. I also see an Inverse Head and Shoulder forming, this could be a reversal from the chaotic downtrend it has been locked in. I also wanted to be sure of this idea, so I included the Fib retracement and it confirmed my thoughts. The key fib retracement we should be paying attention to is the 0.382 which coincidentally happens to be our neckline/Support. If price is rejected here, It will signal a reversal and my Signal will be activated. Thanks for reading!!