GBPAUD: Trendline break, waiting for retest
Updated
We can see that GBPAUD has broken the weekly rising trendline with gusto at the end of last week.
We have a small pinbar close on Friday which suggests a retracement back up to retest.
I'm expecting strength to build up for the AUD with the positive signs coming out of China, we can see it is recovering across most crosses, and sterling weakening.
BoE decision on Thursday is important, however I think whatever happens this is a good pair to trade and I'm expecting lots of short pips from this pair over the next few months.
Watching out for the retest and then I'll be starting to short.
We have a small pinbar close on Friday which suggests a retracement back up to retest.
I'm expecting strength to build up for the AUD with the positive signs coming out of China, we can see it is recovering across most crosses, and sterling weakening.
BoE decision on Thursday is important, however I think whatever happens this is a good pair to trade and I'm expecting lots of short pips from this pair over the next few months.
Watching out for the retest and then I'll be starting to short.
Trade closed: target reached
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