GBP/AUD - SHORT

1M
New high in the last 3 years, rejected monthly and closed above weekly. Price is far from EMA.

1W
Price is being pulled back down towards EMA. Last week we closed below the weekly level, could retested monthly at 1.85000.

1D
Yesterday closed below EMA with a bearish engulfing, while wicking the 8 EMA.

4H
3rd bounce of the trend line, alongside preferred fib zone. Target set at first extension of my fib, which lines up with a key daily support with enough room to breathe with yesterday’s daily low.