Green dotted lines = Monthly
Pink thick lines = Weekly
Blue = Daily .
When I was looking for trends, I was looking at the daily and I noticed that GBPAUD is forming this sort of pattern that either has tried to break out if you look at it from the two black trendiness that I drew or is trying to break out if you reference the pink line that is thicker.
When taking into account your advice about scoping from the hourly and 4 hours, I see a sort of pattern or like a triple top that has been rejected off the pink that I’ve drawn. In this scenario, I would wait to see if GBPAUD wants to drop to the downside or upside as I see a forming. If it breaks through the 1.80200 level of resistance and claims the .618 fib level as the support I’ll go long. Otherwise, if it gets rejected off the 1.80200 I would short this and have my take profit zone around the .886 where we have seen a number of wicks and keep my stop loss at around the .618 fib level with a little bit of leeway.