GBP/AUD setting for lower levels
Price found resistance at 1.67-ish level. Since then we saw a reversal and crossovers with many moving averages. I will short this position if price falls below 1.649 level. Stop will be at 1.6550 and profit target at 1.620. This gives me sufficient P:R ratio of 4.75.
From fundamental perspective one can favor the downside since China beated almost every analyst consensus number on todays news releases. (Strength for AUD)
From fundamental perspective one can favor the downside since China beated almost every analyst consensus number on todays news releases. (Strength for AUD)
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