CKCE

GBPAUD "Double Bottom" - Waiting for a possible break out above

Long
FX:GBPAUD   British Pound / Australian Dollar
Noticed what could be seen as a "double bottom". The pair is currently in a correction and heading to a zone where there was some resistance back at the end of 2016.

The correction could carry on for a bit longer, so, for now, I'm waiting to see if the price will break out above before I enter the market. At this time I'm waiting to see what the market wants to do here.
Comment: Broken above the zone I anticipated - so have gone long here.