GBP/AUD Technical Analysis

Rooftop pattern on daily
The price should move down
Targets are M H3 and M L3
1-2-3 Breakout

Double top support
High of the move
New Supportﾂ
Retest of the swing entry zone
Target

GBP/AUD has formed a rooftop pattern on the daily TF. The pattern has a horizontal or near horizontal bottom with up sloping trend in the first part of the pattern followed by a down-sloping trend in the last part of the pattern. 1-2-3 resembles the roof. The entry zone is around 1.8520. The first target is is M H3 camarilla 1.8375 followed by 1.8250. If the market continues with the trend the final target is M L3 camarilla pivot - 1.8050.