GBPAUD is testing the upside Inverse H&S resistance
It is testing the 1.8340 which is Inverse H&S resistance. For a downside reversal and a higher probability of short trade entries, we need to see a confirmed break below 1.8000. A break below this level would lead to an extension lower to 1.7640 medium-term. The overall short-term is an uptrend but we need to see a confirmed break above 1.8340 for a complete upside continuation extension.
Note – We are inclined more to long trade entries upon a break above 1.8340 with the stop loss below 1.8100
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