More pound weakness
GBP/AUD marks a unique trade. Further pound weakness is on the cards in the next two months for two key reasons. 1) A potential vote of no confidence in the commons 2) A forced no deal by October 31st which I believe is becoming highly likely as time is diminishing before Prime Minister Johnson must make a decision.
On the technical side, this retest of the key 1.80 level looks perfect before a downside continuation down into that crucial 1.72-3 support zone. A good swing on the cards..
On the technical side, this retest of the key 1.80 level looks perfect before a downside continuation down into that crucial 1.72-3 support zone. A good swing on the cards..
Note
A spike to 1.82 and an immediate rejection and meltdown. Now hitting 1.77 and looks like lower is on the cards for next week
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.