GBP/AUD IS AT THE VERGE OF A MAJOR BREAKOUT.
The pair has been in a rectangle since 12 July '19, and started forming the symmetrical triangle at the end of July.
Red lines represents trendlines and also the symmetrical triangle, while the black lines represent the rectangle. The green lines are H4 support and resistance zones.
To me, the market seems to be printing lower highs and higher lows, forming a sort of symmetrical triangle. The breakout for this pattern can go either way. The pip target for the breakout is estimated to be the length of the triangle. That’s like 300 PIPS Y’all.