GBPAUD Higher
Updated
Trying GBPAUD higher here.
A newsletter i read has recently turned bullish on GBP due to various fiscal/sentiment reasons, i've been looking for a risk off type of trade to take and GBPAUD higher makes sense to me.
Nice hammer on the daily chart and a double bottom on the hourly forming.
There's a proxy of GBPAUD to EURAUD and therefore the VIX but GBPAUD has recently has detached a little due to the poor uk narrative. We could see this slow down a little on Liz Truss now being prime minister as the market takes a bit of a breather on GBP. The VIX and rate differentials have been rising which should mean higher GBPAUD, commodities are lower and the US500 is lower as well which should also mean higher GBPAUD.
The AUD dividend story ends at the end of this week as well i believe and we are also approaching a poor time of year for stocks.
Not trading/investment advise, feedback welcome!
A newsletter i read has recently turned bullish on GBP due to various fiscal/sentiment reasons, i've been looking for a risk off type of trade to take and GBPAUD higher makes sense to me.
Nice hammer on the daily chart and a double bottom on the hourly forming.
There's a proxy of GBPAUD to EURAUD and therefore the VIX but GBPAUD has recently has detached a little due to the poor uk narrative. We could see this slow down a little on Liz Truss now being prime minister as the market takes a bit of a breather on GBP. The VIX and rate differentials have been rising which should mean higher GBPAUD, commodities are lower and the US500 is lower as well which should also mean higher GBPAUD.
The AUD dividend story ends at the end of this week as well i believe and we are also approaching a poor time of year for stocks.
Not trading/investment advise, feedback welcome!
Note
coming out for -0.17%Note
re-entering at 1.7024 with same stop size, level just below current lowNote
taking out for 0.55%
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