Chart Of The Week: GBPAUD Daily Perspective

GBPAUD Daily Perspective. From my previous analysis i initially conducted an ABCD from the last swing to the downside which played out well but did not quite reach -0.27 fibonacci. We have retraced back into this descending channel. The highlighted yellow box is 61.8 Fib on a inverted fibonacci. The weekly candle has ended very bullish almost creating a bearish three strike. Would like to see how react at this resistance level and see whether we break to the upside or continue down in this slope towards the weekly trendline. Very interesting pair, i am favouring the downside targets on this one.