GBPAUD made a nice five-legged drop from 1.8000 level, which can be regarded as the first sign for a locked in top, and for a minimum three-wave bearish reversal to be underway. After the five wave drop, we have seen a temporary pullback as in an A-B-C matter that looks now completed, and points towards new lows. On that note a breach below the lower channel line would signal a bearish continuation.
GBPAUD, 4H
