GBPAUD test of range

I received a comment (my apologies for late reply didn't see the original post as awaiting moderation) about break and test of range and test of range. Is test of range as good a signal as break and test.

My comment yesterday 5 May 2015, see http://vantagefx.blogspot.com/2015/02/london-open-27-feb-15.html was "All I can suggest is to be aware and watch out for it. But remember you are looking for all the elements i.e. a failed move in a direction, clean move to other end of range, small retrace and then finally some agreement from other pairs for confirmation of strength/weakness. For example gbp weakness in the above post. Putting all together does give a strong signal."

This morning GBPAUD we have a failed move up around London open with multiple tops, a clean move to the lower range (red line), small retrace and agreement from other GBP pairs (below their moving averages and giving lower highs) showing GBP general weakness. As mentioned several times I like the correlation GBPAUD and GBPNZD when they are agreeing on direction.