Description
⋅ The GBPAUD has seen the Pound appreciate over the last 3 years , in a stepwise manner forming an uptrending channel.
There have been 5 waves already, and price now moving towards the supporting trendline , after being recently rejected by the 200 MAV .
Considering a movement where price passes below monthly S1 and the channel support
Entry - now
Stop - above 200 MAV
Target - the Monthly S4 - 782 fib of the channel.
RR = 4 ......