GBPAUD A Retest of Previous Structure (Zone 1)

Here's another look at the GBPAUD trading opportunity that we discussed yesterday. As you can see price has made it's way back down into the 1st potential Kill Zone, running into our previous structure resistance (see left chart) as well as our zone of 38.2 & 1,618 (inversion) Fibonacci Confluence level.

Please understand that just because price reaches our Kill Zone doesn't mean that we are buyers. Unless you're a very aggressive trader, this is where you look for your reason for entry.

If that reason for entry isn't fulfilled then, you readjust and put eyes on the 2nd potential reversal zone which is a little lower around the 1.71 even handle.