My GBPAUD short trade is nearing an important level overnight .
Overnight for many of you chaps anyway. Not for us time travelers 8 hours ahead of GMT.
I entered my short trade on the 10th October at 1.6947 and we are nearing the support area on the chart at 1.6780. I still like the upside in Aussie, yet GBP could prove to be the ‘wild card’ here. Cable is bouncing from one headline to the next and is proving a difficult trade call for all but the brave intraday news traders. We’re looking at some big targets with this trade, so wider stops than normal should apply. The measured move is in the region of 1.6400. – Current price 1.6791 .
Previous chart shown below.-
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