GBPAUD.Selling at the 0.786 Fib of the previous downside movement seems like a good idea, as with a potential target in the 1.605 area the R/R and a stop loss above previous high, the ratio is just outstanding.
If you prefer to have a confirmation, wait for an impulsive break of the previous upward channel, then a flag, then enter on the break of the flag.
Trade with care and only with a tested strategy.
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