Long GBPAUD - Fundamentals and Technical matches
Entered Long GBPAUD at 1.83295 (200-Hour Smoothed MA and also 23.6% of 1.72134-1.86828)
Fundamental:
With BoE minutes/ RBA Speech/ Australia CPI inflation coming out, volatility should ensue.
USD weakness has caused both GBP and AUD to be at elevated levels. Feels AUD more so after better than expected China GDP, IP, etc. numbers.
Technical:
AUDUSD has been in consolidation since start of the month, whilst GBPUSD looks more likely to look for a retracement after the swift fall.
Daily chart as above also showed a bullish flag pattern on the GBPAUD pair (credits to EagleTrades - link below)
Both 100 and 200 DMA are trending upwards
SL right below 200 DMA which coincides with previous high in August (1.81866)
TP1/2 at 1.8600/80 respectively
Fundamental:
With BoE minutes/ RBA Speech/ Australia CPI inflation coming out, volatility should ensue.
USD weakness has caused both GBP and AUD to be at elevated levels. Feels AUD more so after better than expected China GDP, IP, etc. numbers.
Technical:
AUDUSD has been in consolidation since start of the month, whilst GBPUSD looks more likely to look for a retracement after the swift fall.
Daily chart as above also showed a bullish flag pattern on the GBPAUD pair (credits to EagleTrades - link below)
Both 100 and 200 DMA are trending upwards
SL right below 200 DMA which coincides with previous high in August (1.81866)
TP1/2 at 1.8600/80 respectively
