GBPAUD - the bunny continues it's journey

My followers certainly remember this chart posted last week where I said that in general we were in an uptrend following the nice hops as shown on the chart. I also said that we were retracing downwards from the completion of a Cypher Pattern.

This retracement has now come to and end a little below the .618 of the previous move up and the Easter bunny now continues it's journey in the up direction. If you are not in this trade yet, look for a minimum .382 retracement from the up move for bulls to be able to recharge. Next stop will be around the 2.0 even handle where price might put up a little fight to climb higher as it's a the level of the previous highs.