alldyn_pip_king

GBPAUD are we at the end of bullish sentiment?

OANDA:GBPAUD   British Pound / Australian Dollar
I don't see that this remains bullish much longer. If you go back to 2014-2016 you can see that the price was above the channel (PRZ) and we haven't seen these price levels in a few years. Is it worth the short term gain to go bullish considering where we are at? Divergence would have to be big enough across the board before I think I entered a LONG position for any foreseeable swing trade. I don't think Brexit will be good for the pound in the near future, so much uncertainty about what is going to happen since both sides of the political aisle can't agree to move forward. Also, with the AUD being in a position of weakness do you want to trade weakness verse weakness. Look at AUDCHF and AUDUSD, plus US-China trade taking center stage overshadowing everything else.

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