GBPAUD looks to be set-up for a break lower after touching the 0.236 fib level very neatly. This might be the start of a new wave?
On both 4H and Daily we are in overbought territory, especially the daily TF. On the 4H TF we also seem to have formed a strong bearish divergence that might start come into play next week if we break the lower trend line of the bullish trend.
Price is consolidating around 2.03 ready to do something. Maybe a break lower towards 2 and 1.98?
Last two daily candles showed a nice bearish signal and of today closes as a spinning top it could be the third candle that indicates that the bullish momentum is gone.
Order triggered at 2.03
STP = 2.0540
TP1 = 2.00
TP2 = 1.98