Daily candles have formed head and shoulder. During last week's daily candle, we ended with an indecision candle after a massive bullish move. I am anticipating a bearish move for GBPAUD. Price also gets rejected at the 61.8 fibo level.
Just waiting for market to decide the next direction
Just highlighting key structure area in the market.
I am looking forward to price touching the resistance point and going back to the downside.
I expect price to test the resistance level around 1.3400 before dropping. If it does break, am risking 30 pips. Risk to reward is 1:2.3, which is quite reasonable.
My honest analysis of GBPUSD as an intraday trader.