Short Position on GBPAUD regarding to the previous analysis

As mentioned in previous analysis, price has been reversed from daily channel and now it is correcting the previous bearish momentum. Now we are waiting for breakout of the corrective structure as a confirmation to enter the short position. Target is the bottom of the daily channel as well as 127% of Fibo level and/or previous support zone.
Will update the trade in case of breakout as soon as we enter the position.

https://www.tradingview.com/chart/GBPAUD/purUGaJH-Potential-Bearish-Movement-on-GBPAUD/