FX:GBPAUD British Pound/Australian Dollar
GBPAUD has broken a and could possibly reach its new monthly for February, 2016. This is a simple mean reversion trade based on structural S/R and a breakout. Support may be found at the 200SMA and 200EMA lines in addition to S/R from structural lows. The short-term may also add support should price reach those levels. Entry is placed at the retest of the with SL below structural lows and target at the new monthly .
Comment: +105 Pips: SL Moved to below wave 2 of triangle breakout impulse
Trade closed: target reached: Closed for a win before the news - original pivot target reached soon after for +140 pips