GBPAUD: Breakout Below Channel Signals Change Of Behavior
Price has broken below a long term uptrend (lower parallel of a rising channel) and is now retracing developing a corrective structure..! On it way down it looks like it's moving into a descending channel. Wait to see if price reaches the upper parallel and sell the market aiming at least the lower parallel of the channel. In the chart below i describe the sell setup:
