Taking a look at GBPAUD we see a few indications of a reversal and continuation to the downside:
- Elliott wave completion of 5th wave on daily time frame - additional shorter time frame elliott wave completion on 4hr. - Fibonacci cluster zones lining up at fresh demand levels - Rejection of fresh Supply level at 1.80 - Bearish engulfing pattern to close the week on Friday
This is a view of my directional bias for the week, not necessarily a trade setup just yet. However I will be looking for places to enter short and update idea.