as you can see gbpaud is currently in an uptrend
however i expect price to break the current uptrend then retest the trendline which will create a head and shoulder formation which is a reversal pattern.
if this happens, i then expect price to fall to the next support area which also is the 0.618 fib region.
id like to see price retest the Weekly uptrend around 1.95. if respected with bullish rejection, followed by engulfing candle, i expect this pair to continue to the upside to create a higher high.
100D EMA asking as support on weekly trend line too
if pair breaks trend line, retests and rejects - Trade invalid.