GBPAUD SHORT

GBPAUD on the daily timeframe has broke above resistance with a strong bearish impulse and now i am expecting a correction to atleast the 0.382 fibonacci. Also on the daily timeframe market has formed this nice W formation, after a W formation we expect the pattern to complete at the neckline giving us a downside target. On lower timeframes at the moment everything is still bullish we are waiting for our rules to be met and new bearish structure to form on the lower timeframes before we can begin to look for a valid entry.