So i am bullish on all gbp pairs as i am holding gbpusd long too under 1.30.. If i will be wrong then loss will be little but if correct then risk reward is too high!!!
On Friday, gbpaud didn't touched the rising trendline on 1hr and 4hr which was at 1.887. Even after such fall sharp it remained supported above... So its a bullish signal!!! On 4hr, daily and happens to be on weekly it has resistance trendline close to 1.895 and on Friday gbpaud got good resistance from 55 sma at 1.895.. So break of 1.895/6 will drive bulls and break of 1.887 will drive bears.. For bear side targets are very wide towards 1.85 and 1.77!!!!!!! Going below 1.887 will drive towards neckline of double bottom at 1.8766 and clears the way of 1.883 towards 1.877.. And in this case break daily Head & Shoulders Pattern will most likely confirm with target towards 1.85 initially towards 1.77.
On 1min chart it has an open gap of Friday fallen spike at 1.8983.. So as long as it stays above my defined figure of stop in chart.. I will remain bullish and will look for 1.92 and high.. There is also a probability.. It completes open gap and fall back.. So once it will cover gap I will move stop to entry as I have buy at 1.89 and under it.. Regarding gbpusd.. I am not completely bearish as it is in consolidation like all other major currency pairs.. And I am expecting rise in GBP pairs on Monday!