GBP/AUD has a completed head and shoulders pattern, the first impulse after the head and shoulders is complete. After every impulse there is a correction wave, which is what we are currently in. After the break of the wave we should be looking to see another impulse wave to the downside. Only sell if the bearish flag breaks to the downside, if not. The structure has changed and the trade will be void. If there is a break to the downside, we are looking towards another obstacle, a key trendline. If the trendline does not hold and breaks to the downside, I will be looking to ad more sell trades. Trade safe traders.
If there is a break to the downside this will be a good trade.