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GBPAUD (Daily) LONG IDEA: a NEW upcoming UPTREND!

Long
FX:GBPAUD   British Pound / Australian Dollar
POTENTIAL PROFIT: UP TO 300 PIPS

TECHNICAL ANALYSIS:
-Since the beginning of April 2020, the price has been following a long downtrend, until the end of June, where the price bounced twice on an important weekly support zone .

-The second rejection moved the price up over the ema 50, starting a new side trend around a secondary S/R Level at about 1.80558.

-The 14th of December, the price retested the support zone , a long shadow on the last downbar showed a sign of weakness to continue the same trend, in fact the price is now moving with a new uptrend.

CONCLUSION:
-The price is actually bouncing on a new trendline support and I aspect it to move up until at least the secondary S/R level .
Before to open any position, I suggest to wait the retest of the trendine support and be "sure" that the price action confirm the new uptrend.

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