Wave 5 Extension - Wedge on 1hr - Possble test of WR1

I see GBPAUD in a long standing uptrend, I say this because despite the 5th wave being over and sellers readily available, we still tapped Support 3 times previously on Feb. 5-7 and broke out to the now Weekly Resistance 1 which is at 1.94, I believe we could possible retest the Monthly Resistance at 1.97430, and from there it is possible that we could see a wave extension. I also see AUDUSD bouncing off of my 4HR trend, if we reject and fall we should see somewhat of a pump along these lines.

Trade chiuso: obiettivo raggiunto:

Rebounded off .382 fib level. Took profit, looking at short on ABC corrective wave.