After the UK manufacturing PMI slipped into contraction and the refferenum getting closer I expect to see the GBP/USD return to the downside. The technicals suggest a 50% fib pull back is on the cards and that is what I will use to enter this trade. Using above the 76% as a stop loss and the previous strong resistance level at 14400 as my take profit
After mixed data from China this morning and Oil looking like a further drop is on the cards I would expect the Aussie the pare all its gains from last week which was mainly due to the recovery in Oil. We do have the RBA rate statment out tomorrow morning so I will be looking to lock in any profit with a break even stop loss before the rate staement is released....