FX:GBPAUD British Pound/Australian Dollar
A is forming off horizontal support coinciding with the bottom of an upwards channel on GBPAUD . We're also at a 61.8% from the recent swing high to swing low, and are just below the 50 . All these factors suggest to me the prescence of a turning point. As such, I put in an order to go long at 7990 with my stop at 7920. My target profit is 1.82, giving me a reward/risk of 3. If Price closes above the dashed orange line I will move my stop to break-even.