$GBP/AUD New Long Setup

FX:GBPAUD   British Pound / Australian Dollar
53 0 0
We bought $GBP/AUD before in two positions, took half profit, and remaining position stopped out at break even as the pair makes a lower low.

The pair fails to make a new high and reverse to make a lower low, which makes it correct in 7 swing. We don't like selling the pair and favour buying it in the blue box area 19035 - 1.9192.

Trade Strategy:
Long half position at 1.9192, long another half at 1.9035, for an average entry of 1.911. Initial stop loss is placed at 1.877. We will take half profit at 50 back of the whole decline from 2.0029. Second profit is new high at 2.04.

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