This looks like an absolute long term gift in the GBP/AUD to me. As shown in the chart we are currently sitting on decent parallel trendline support that has proven significant on multiple occasions. I am overall bullish the pound against pretty much everything and am amazed at the lack of follow through after Thursday when we saw MPC voters seeking a rate hike change from 1 to 3. Whilst i don't see a reversal of the rate cut last year anytime soon, thats a decent enough swing that cannot be ignored.
Any thoughts or ideas are appreciated
Good Luck
Any thoughts or ideas are appreciated
Good Luck
Comment:
Forgot to mention the inverse H&S in play that targets the 38.2 Fib around 1.83