GBPAUD Uncertainty

GBPAUD is currently in a risky position. Price retraced upwards after the quick sell-off, slightly short of the golden Fibonacci ratio (0.50-0.618); however, if price continues to falling but just so happens to bounce off the most recently broken level of resistance, then I may commit to a long trade. There is potential for a double-bottom formation at the recent resistance level. If; however, price falls and breaks, with momentum, that same resistance level, I will look for a shorting opportunity.

THIS IS NOT FINANCIAL ADVISE NOR AM I ENCOURAGING A TRADE. TRADE AT YOUR OWN PLEASURE AND RISK