[Potential] GBPAUD: Mutli-Year Resistance Channel Closing in
GBPAUD OutlookTechnicals:
- Stochastics moving into Overbought conditions (D and W)
- Price action close multi-year Resistance Line of Parallel Channel
- Price action likely to consolidateinside the Short-Term Parallel Channel until it breaks
Fundamentals:
- The Brexit story will remain volatile and may give the GBP a push higher while the AUD may strengthen in the near future once the US-China trade deal settles
We will be waiting for confirmations of multiple confluences before considering this trade setup ready. Patience is the key to success.
*This pair outlook is provided on an advisory basis. Any trade decisions made based on this outlook is a personal decision and we are not responsible for any losses derived from it.
Disclaimer: The personal opinion above does not constitute as an investment advice. Any decisions taken based on the above opinion is purely at your own risks. DYOR.
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