GBPAUD analysis for Week 5

FX:GBPAUD   British Pound / Australian Dollar
As I mention in my analysis last week, my long term bias on GA is pretty bearish . Last week, we came all the way to 1.7700 to test the 0.618 Fibonacci level. After that, GA formed a evening star candle, with extreme bearish close on Friday. I will expect some futher down side momentum on this particular pair, 1.72500 will be my first target. Depend on the price action around such level, I will then update my analysis on this pair. Now, I personally will wait for any retracement on H2 time frame to actually execute a short.