Hi trader,
GBPAUD has been in a strong uptrend for the last two weeks. The breakout of 1.9450 suggests to me that this pair is likely to continue higher into next week. Trend following traders may already be long on the break (if so, well done, now just hold on!). If you have missed it, a more conservative play is to wait for a pullback to the breakout point of 1.9450 and look for buying opportunities.
If you don't regularly trade Pound Aussie be aware that it is a rather volatile crosspair and can easily move 100 pips in a short period of time (like it did 5 minutes ago with RBA rate statement release).
Good trading and have a great weekend,
Luke
GBPAUD has been in a strong uptrend for the last two weeks. The breakout of 1.9450 suggests to me that this pair is likely to continue higher into next week. Trend following traders may already be long on the break (if so, well done, now just hold on!). If you have missed it, a more conservative play is to wait for a pullback to the breakout point of 1.9450 and look for buying opportunities.
If you don't regularly trade Pound Aussie be aware that it is a rather volatile crosspair and can easily move 100 pips in a short period of time (like it did 5 minutes ago with RBA rate statement release).
Good trading and have a great weekend,
Luke