theselfishtrader

GBPAUD - Trend continuation or breakout higher?

FX_IDC:GBPAUD   British Pound / Australian Dollar
Price recently broke to the downside to test 1.599, causing a double bottom on the daily timeframe , and formed a very strong bullish candle.
Price is back within the range and testing the 61.8% Fib
I consider price to be at an interesting level. Should this area hold, I will look to hop on to the trend down, looking for new lows.
If there is a breakout higher, I will look to get long on a retest.
A bit non-committal from me, but price is at a turning point.

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