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British Pound / Australian Dollar
Short

GBPAUD Summary & Trade Setup

By Sabi
GBPAUD

The GBPAUD is currently receiving support from the 50MA and a trend line that has previously been acting as resistance. There is also some rather significant levels of support and resistance in this current price area that have, historically speaking, yielded very strong moves.

I recommend waiting for a break of the 50MA coupled with a break of the currently supportive trend line before entering this trade, initial targets should be set at the bottom of the trend channel this pair is currently in.
Sabi

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