Prepare to buy GBPAUD on 20 March 2014

My Fibonacci breakout strategy gives a buy signal on 20 March 2014. If you look at GBPAUD H4 timeframe today, the last resistant has been broken. I will wait for a pull back before taking the Long position. Look at the chart below

gbpaud-buy signal 20032014

If we switch to timeframe H1, the price has break the upper Bollinger Bands and travelling upward. I will wait for a retracement or pullback. It would be good if the price can move down to the level 61.8 or 50 Fibonacci.

gbpaud-buy signal 20032014-2

Will see tonight for this position.

Ariel

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