The last time we broke down GBP/AUD was when it was trending north on the daily. Since then we have taken a huge plummet driving the trends down and prices back below 1.8000.
1.7500 looks like a comfortable 100+ pip landing spot with more potential for heavy downside movements.
As of right now there is very little upside opportunity and we would advise traders not to try and pick a bottom.
We will provide an update over the coming weeks to see how this pair plays out.
1.7500 looks like a comfortable 100+ pip landing spot with more potential for heavy downside movements.
As of right now there is very little upside opportunity and we would advise traders not to try and pick a bottom.
We will provide an update over the coming weeks to see how this pair plays out.