Rejection of key area
As shown on chart
Short GBPCHF
Bearish flag
Potential long if inverted H&S neckline is broken and fails a retest...
Rejection and failed retest of key area coinciding with 0.5 fib level of previous major downtrend
Reject and failed retest of key area on H4
Sell GBPAUD
Aim TP2 if clear break of resistance @TP1
Strong upper resistance also looks Set to retrace at key fib level which coincides with this resistance.
Price has slightly broken the downtrend and looks set to reject fib level (from longstanding uptrend). I would wait for a failed retest on H4 then buy.
