GBPAUD - Catching an early downtrend?

Setup: Potential start of an hourly downtrend. Hourly downtrend line is being tested at its the third point coinciding with the 50% Fibonacci level, stepping down from the 61.8% level. We enter at the current level with a SL slightly below the 61.8% level and a TP of the 78.6% Fibonacci expansion level.

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