DAILY ASIA SESSIONS WATCHLIST GBPAUD
For us, given that Sterling has been an under performer against Aussie for a while now, and with covid case trending lower in the U.K., the short-term favors Sterling for now. And if we see both faster inflation in the U.K. and disappointing retail sales data from Australia, we think the odds are good that the upside momentum may lead to a break above the 1.8000 – 1.8050 level, and a fresh swing long opportunity
But if we see the opposite scenario play out where Australian retail sales data improved substantially and the U.K. inflation situation weakens, that bearish divergence signal may draw in both technical and fundamental traders that could push the pair back to the 1.7900 handle, based on the daily ATR of around 120 pips.
But if we see the opposite scenario play out where Australian retail sales data improved substantially and the U.K. inflation situation weakens, that bearish divergence signal may draw in both technical and fundamental traders that could push the pair back to the 1.7900 handle, based on the daily ATR of around 120 pips.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.