Channel busted - bulls head for the exit.

FX:GBPAUD   British Pound / Australian Dollar
61 0 0
This is an incredibly bullish channel that we've been in since May 1. 2,400 pip rise in 3 months. Great trade if you were long!

The channel has broken down now & I'll be a seller if we make it back up to 2.12/underside of broken TL, to start a potentially beautiful H & S on the daily. Potentially 2.00 being the target.

Linking to the AUD/USD             chart I posted earlier. With that monthly TL supporting AUD any further bounce in AUDUSD             will assist in the fall of GBPAUD             .

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