GBPAUD: Has been in a great uptrend due strong pound first as the market was pricing in the rate hike we had in November. After BREXIT inflation in England has spike due a 30 % devaluation on the pound. The devaluation on the pound put a dent of import because business were paying more money for imported goods this cause and increase in prices for good in the country. Futhermore, AUD weakness has also help the rally due lower commodities price, flow inflation and dovish central bank.
GBPAUD has not cross broke out of 1.76320 and because this is uncertainty that we will see another hike anytime soon i dont expect the price to brake out of the area.
Sell GBPAUD
Entry 1.76320
SL 1.76920 60 pips
First TP 1.747 162 PIPS
Second TP 1.73861 245 pips
Third TP 1.727 362 PIPS
GBPAUD has not cross broke out of 1.76320 and because this is uncertainty that we will see another hike anytime soon i dont expect the price to brake out of the area.
Sell GBPAUD
Entry 1.76320
SL 1.76920 60 pips
First TP 1.747 162 PIPS
Second TP 1.73861 245 pips
Third TP 1.727 362 PIPS