GBPAUD - Buy a bounce, then SELLThe GBPAUD long term trend is most definitely bearish. However, the recent move is likely to bounce off the 1.6542 level. I would guess a short Fib bounce, then back down again. We have Retail Sales coming up shortly, so keep an eye on that.
Buy near 1.6542 with a pretty tight stop (because this is a counter-trend trade), hold for a consolation move, then reverse and sell. Downward targets can keep going because this pair continues to consolidate as it drops.
Trade safe and enjoy the ride.
