Long

GBPAUD Long

By Blaze2069

Updated

GBPAUD just hit a level of demand as of this morning (London session) and based on AUDUSD which also hit a supply should see GBPAUD break up higher. There is a potential for this pair to make over 1000 pips. There is also a gap at around 2.00000 indicated by arrow. The double bottom also indicate a bullish pattern. HOLD on to your seats!

Note

CPI news for AUDUSD worst than expected 0.2 Actual, Expected 0.5. This translate into a nice catalyst for price to move higher for GBPAUD pair.

Note

We now have a little speed bump a head. The daily sentiment is up so I still expect the price move higher

Note

RBA announced rates cut by 25bp, cut from a cash rate of 2% to 1.75%. AUDUSD was heading towards 0.7700 before this announcement and if you look closely at the daily chart for AUDUSD head & Shoulders formed and this is also a confirmation for a bearish trend.

Therefore, GBPAUD moving in the opposite direction.

Note

This pair has already done over 1000 pips as mentioned at the beginning. We could now be heading towards 2.0000.

Note

"RBA ready to cut rate again" was the news now sending GBP soaring against AUD. Getting closer to 2.0000

Blaze2069

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