theforexportal

Potential LONG trade developing on GBP/AUD

FX:GBPAUD   British Pound / Australian Dollar
The TDI on the DTF of GBPAUD is very interesting currently. For the last two weeks the volatility bands have narrowed and and we have a classic squeeze. Over Thursday and Friday the RSI line has crossed the signal line to the north.
I'll be watching this pair closely as any sign of the volatility lines widening and the RSI pushing north could signal a major move north in this pair.
But for now we wait.

Trade idea.
BUY above 1.6102
SELL below 1.6066