The whole idea of shorting this pair is mainly based on technicals and a bit of fudamental analysis:
Technicals:
Break and retest of both the trend line, and the support, as well as the 4H 50 EMA retest.
Fundamentals:
GDP GROWTH IS HIGHER IN AUSTRALIA,
INFLATION IS LESS IN AUSTRALIA,
UNEMPLOYMENT LESS IN AUSTRALIA,
the only thing against us here is interest rate that is higher in the UK.
Technicals:
Break and retest of both the trend line, and the support, as well as the 4H 50 EMA retest.
Fundamentals:
GDP GROWTH IS HIGHER IN AUSTRALIA,
INFLATION IS LESS IN AUSTRALIA,
UNEMPLOYMENT LESS IN AUSTRALIA,
the only thing against us here is interest rate that is higher in the UK.