GBPAUD Possible trendline break and run up?

GBPAUD appears to have broken out, pulled back and is headed back up. It could be headed back up to the beginning of the trend formation. Fibs from the original impulse verify my thought. This could take a while to really play out, but I think I'm going to give it a shot.

Let me know what you think. I'm learning, so let me know what I did right or wrong.