Bullish counter trade idea
BRITISH POUND / AUSTRALIAN DOLLAR FX_IDC:GBPAUD
Price has tested the September 18th swing low, an ideal spot for some short covering and profit taking!
Current price action (congestion) married with the RSI coming out of oversold conditions, as well as the ADX being at an extreme value and slope gradient, gives me confidence in taking a low risk buy trade.
Target: 61.8% Fib level confluence with previous support at 1.80400s