FX:GBPAUD British Pound/Australian Dollar
Hello, how did you find that the 2.12764 would be a good support level to buy into the trade for longer term? Look at the chart that follows, that is a daily one, and I am identifying a descending triangle, which is bearish in nature, and your level you mention would be a brake of the triangle support, which could lead to further downside movement and not upside as you hope for. This is only my perspective on this issue, but I do not know if this fits your trading plan. And if it's fitting then you should know how to get involved. But in my opinion, if price action will catch the level you mention, further downside movement can be awaited.
If you would like to go long anyway, I suggest the 2.14 area for getting long. This would mean approx. the support level of the triangle and the SL can be set below this level. This way the R/R ration would be very attractive. But once this level broken, I would go short after confirmation of bearish momentum.