xiaoT

GBPAUD is picking up the direction

FX:GBPAUD   Pound British/Dolar Australia
24 0 4
Cable is gaining strong momentum versus Aussie since middle of March this year. Recently, is challenging the 1-year downward trend line since march 2016. A weekly close above 1.6720-1.6751(trend-line resistance & 0.146 fib retracement) would mark the start of large rebound follow the Brexit mess. On the other hand, if the wedge pattern keeps on holding, short and target around 1.5800 would also be a nice trading opportunity.
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