Long Pound/Aussie on Dovish RBA & positive Brexit?

Given the positive noises coming out of Europe/UK about Brexit we could possibly see a further strengthening of the GBP. If that happens where should you look for the best trading opportunity? With the USD also strengthening I would avoid Cable and rather look for a currency that's having difficulties. Is that the Aussie? Well possibly given that the last RBA meeting was very dovish we are not expecting today's interest rate decision to be positive. Even if the Aussie moved sideways we could still get a nice move on the GBPAUD. The next move may be a 5th wave so don't expect to much from it. As you can see on the chart the better opportunity may happen fater a bigger correction of the latest move up. Have a look at the other Pound pairs for other opportunities.

This is not investment advice.

I'll update my idea as it develops so follow for notifications.

Steve Nixon
Trainer & Mentor

Comment:

OK we've had the long break out as expected