Fxprotrader
Long

GBPAUD Correction Has Started After Breakout

FX:GBPAUD   British Pound / Australian Dollar
Price has broken a short term resistance level and has pulled back to test the broken level. What we should wait is price to break that small correction so we can buy the market.

This setup is the beggining of a correction after a sharp move to the down which broke a long term support level we can see in the weekly chart:
snapshot


Price has the potential to reach the long term level before starting a sell off.
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