GBPAUD sell potential is off the charts *peep the pips*

GBPAUD restested the strong key support/resistance area box. This will be a good re-entry/continuation trade for the pair. AUD news coming out in a couple hours which is looking positive which could push GBPAUD lower. Check out the 1h chart or the 2h chart and you'll see price reversing exactly at the key area box. Some good indications but if you place a fibonnaci from the last high to the low you'll see the 32.8% fib is just at the top of the key area box so this trade is rather risky. Overall, I'll check on the trade after the news settles and I get home tonight.

Comment:

Moved stop loss to +50 pips. currently holding +130 pips