NickLindleyFx
Short

GBP/AUD Daily short idea.

FX:GBPAUD   British Pound / Australian Dollar
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Breaking down this pair, I saw this nice setup form on the daily time frame.

Price looks to have put in play the A, B and C pattern ready to rally down and complete the D leg. I can see a daily bearish engulfing candlestick has formed after some daily fibonacci rejection.

Zooming in on the 4 hour and hourly time frame, we still have not broken and closed below the counter trend line , If I see a close below this CTL I would then be looking for an hourly retrace back to the previous higher low level, confirmed with a hourly bearish candlestick pattern to enter short and target the fib play to be completed. Targeting 1.66163.
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