FX:GBPAUD   British Pound / Australian Dollar
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1.) Monthly Resistance at 1.97426 which held
2.) RSI Overbought
3.) Price is at 0.786 Fib retracement
4.) Daily chart shows LH from previous high at 2.000
5.) Monthly resistance also coincidences with Kumo cloud resistance

I agree. Check out this post which complements your idea with a pattern

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