GBP/AUD Ascending triangle short sell
Overall, GBP/AUD us in a downtrend on the daily time frame, im waiting for price to reject the 7.83000 area of structure as resistance, then break past intraday structure of support around the 1.77000 area. once price breaks 1,7700 i will be looking to short sell. Of course, price does not do what you want so it is important to watch what price does, if price breaks past 7.83000 resistance and retests as support, i will now look towards a buy instead of a sell. this setup is a 7.62:1 risk to reward, the reward being the next level of structure which is 1.72100 support.
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