GBPAUD is trading in an ascending parallel channel. The currency pair has found a floor at lower trendline of the channel near 1.7850. it has rebounded from this level towards north to test the upper boundary of the channel at 1.83677, a target for my trade idea. On the dowside, limit your losses with SL at 1.7793, slightly lower than the lower boundary of the channel.
GBPAUD
GBPAUD
Trade active:
upside target achieved. Now wait for selling within the channel.