These are my thoughts for GBP/AUD .
After a strong and lengthy downtrend price has begun to exhaust and has found a strong level of support , further emphasised by a strong wick rejection on the 4hr.
Price then moved strongly from the area of support , indicating strong buy pressure and a potential reversal.
Advice when trading reversals.
If a market is clearly trending , wait for levels of structure to be clearly broken before attempting to trade a reversal.
Patience is the dividing factor between traders. The ones who are able to wait , make the most money. Period.
Good Luck With The Rest Of Your Trading Week
I Wish You All The Best