SHORT GBPAUD

GBPAUD has been in a strong downtrend move so we're looking to be sellers. A good opportunity to sell would be here since the price has come a nice structure point, resistance area,that has held the price 4 times, and also has broken out of a little channel that formed in there.We're looking to place the stops above the highs and our first target should be at the low of this rectangle price has formed.And our second target would be the .618 fib retracement which is in confluence with the 1.414 fib extension.