FX:GBPAUD   British Pound/Australian Dollar
Although the AUD is fairly weak at the moment the recent rally on the GBP/AUD             based on the RBA rate cut and dovish stance it is a bit of an over kill bearing in mind the UK referendum will weigh on the GBP leading up to the 23rd of June. Even if the rally continues we expect to see a pull back on the current up move from the current area of confluence. As you can see from the price action sellers have already started to come into the market producing the Pin Bar candle and engulfing candle highlighted on the chart. A nice easy asymmetrical risk reward is available. If you would like to learn more about candle stick patterns then join me for the FREE webinar on Sunday evening https://webinar.getresponse.com/DGy/price-action-and-candle-stick-patterns-1
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