Price action in GBPAUD looks to be following of that. At this point is can only be a guess, as I'm counting it as a start of wave 1 of a move upwards.
After the , prices typically retrace swiftly to the start of the move. this coincides with the 61.8% fibo level.
Currently pending short as we await the last smaller degree wave 5 to complete in the E wave of the diagonal.