GBPAUD - Channel Divergence

GBPAUD has been on an uptrend since July 2019 , within a well defined channel structure.

Divergence has been in play since end of Jan 2020.

Price is in the top half of the channel recently, and there has been a sharp rejection when price has risen above 2.04
(twice in March 2020. )

Considering a trade in direction of the market

1. Enter long - around channel support 1.9640 - 1.9680

2. Stop - below prior channel low 1.9520

3. Target - at 2.0350 ( intrachannel , below the rejection point of 2.04 and near the previous wick highs)

4. RR = 3