I posted recently about looking for a short on the GBP due to price reaching a resistance zone. Additionally, the Australian Dollar has regained some strength. Looking at the 4H GBPAUD chart, we can see price has broken out of a trend channel going back to January 8th.
On the 1H chart, there are two wicks that have retested the bottom of the trend channel. We haven't seen a strong break of the trendline yet, but will be ready to pounce when it happens.
I will be looking for a bearish pattern here for entry. Will be targeting 1.771, 1.76, and 1.747 should an entry present itself.
the trendline keep rejecting the price acting as strong resis5