FX:GBPAUD   British Pound / Australian Dollar
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Back in February, price broke through the strong support trend line . Despite a continued bearish trend , the final days of April have pulled back in an aggressive manner. Price has pulled into an area with 3 confluences that could offer a reversal in price. First, and most importantly, price has retested the once supported trend line . Second, we see a horizontal trend line with multiple touches in the past. Finally, price rests at a 38.2% fibonacci retracement of the impulse leg that broke support. Eyes will be on price action looking for a short position to present itself. Trade what you see.
To expand on your idea.
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