GBPAUD short term SHORT
A combination of indicators including MA and RSI giving me sell signals. AUD monetary policy was pretty normal, australian economy is doing well, but not impressive, still the A61! futures stopped falling and has recovered somewhat, I expect the Australian dollar to appreciate at least during the following week.
The british pound is still going down thanks to the lower than expected GDP, and futures aren't good in the short term either, however the currency is strong on the longer term, but I expect a bit of consolidation before going up again.
The pair itself has been in a range for a while, and it recently broke resistance, I expect prices to fall and stabilize near the 1.77 area with lows touching the strong 1.75 area.
This is a short term trade that should last next week at most, unless some fundamentals change the overall outlook the pair shouldn't fall much more than that.
Good luck trading.
The british pound is still going down thanks to the lower than expected GDP, and futures aren't good in the short term either, however the currency is strong on the longer term, but I expect a bit of consolidation before going up again.
The pair itself has been in a range for a while, and it recently broke resistance, I expect prices to fall and stabilize near the 1.77 area with lows touching the strong 1.75 area.
This is a short term trade that should last next week at most, unless some fundamentals change the overall outlook the pair shouldn't fall much more than that.
Good luck trading.
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