GBPAUD: Breakout of support and dynamic trendline
We've had a breakout of both support and descending dynamic trendline with no retest, which I'm expecting.
I can't see us retesting the dynamic trendline so considering shorts on the LTF's when we return to the resistance (formerly support) line.
Expecting Aussie strength and Pound weakness, we may go higher with the interest rate decision from the BoE this week (so if I'm in a trade I'll often pull out before the news or at least get the SL tighter as oscillation often reduces in the few hours before the news), so will be on guard for this, however I don't think we'll break back into the rising trend.
I can't see us retesting the dynamic trendline so considering shorts on the LTF's when we return to the resistance (formerly support) line.
Expecting Aussie strength and Pound weakness, we may go higher with the interest rate decision from the BoE this week (so if I'm in a trade I'll often pull out before the news or at least get the SL tighter as oscillation often reduces in the few hours before the news), so will be on guard for this, however I don't think we'll break back into the rising trend.