GBPAUD Long

Technical Analysis:
Price bouncing off two black daily trendlines.
It is also bouncing off a H4 bottom trend line (Red)
MACD Divergence on H4.

Fundamental Analysis:
While the pound isn't the strongest currency atm, AUD is even weaker currently.

Conclusion: Nice little setup for 100 pips minimum.

Trade at your own risk.


Flipside idea: If price bounces off third touch of descending daily trendline, I will look to short it.