GBP - Strong Bearish
1️⃣ Former Democratic Union Party (DUP) leader Arlene Foster has raised concerns of irreparable damage due to the deadlock over the Northern Ireland (NI) protocol.
2️⃣ UK Prime Minister Boris Johnson intends to pursue tax hikes despite objections from his Cabinet.
3️⃣ The UK has recorded 37,011 new COVID cases and 68 more coronavirus-related deaths in the last 24 hours.
4️⃣ Industrial production in the UK is expected to decline following the resurgence of COVID-19 cases in the country.
AUD - Strong Bullish
1️⃣ Positive sentiment in the market supports the strength of high-beta currencies such as the AUD.
2️⃣ In the second quarter, the economy in Australia grew by 0.7%, after growing 1.9%in the previous period, and compared to market forecasts for an increase of 0.5%.
3️⃣ In July, Australia’s trade surplus expanded to AUD 12.11 billion, from AUD 11.1 billion in the previous month, and above market forecasts of AUD 10.2 billion.
4️⃣ Rise in aluminum prices as a result of the coup in Guinea.
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Technical
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We are selling the GBPAUD after it failed to break resistance.
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Risk to this trade
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Any change in sentiment could turn the pair's direction.
Don't forget to like, comment, and subscribe for more ideas.
1️⃣ Former Democratic Union Party (DUP) leader Arlene Foster has raised concerns of irreparable damage due to the deadlock over the Northern Ireland (NI) protocol.
2️⃣ UK Prime Minister Boris Johnson intends to pursue tax hikes despite objections from his Cabinet.
3️⃣ The UK has recorded 37,011 new COVID cases and 68 more coronavirus-related deaths in the last 24 hours.
4️⃣ Industrial production in the UK is expected to decline following the resurgence of COVID-19 cases in the country.
AUD - Strong Bullish
1️⃣ Positive sentiment in the market supports the strength of high-beta currencies such as the AUD.
2️⃣ In the second quarter, the economy in Australia grew by 0.7%, after growing 1.9%in the previous period, and compared to market forecasts for an increase of 0.5%.
3️⃣ In July, Australia’s trade surplus expanded to AUD 12.11 billion, from AUD 11.1 billion in the previous month, and above market forecasts of AUD 10.2 billion.
4️⃣ Rise in aluminum prices as a result of the coup in Guinea.
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Technical
======
We are selling the GBPAUD after it failed to break resistance.
=====
Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
Don't forget to like, comment, and subscribe for more ideas.
Trade active
Trade closed: stop reached:
❌ TRADE HAS HIT SL
-50 PIPS
Risk-off sentiment weighed on the AUD.
-50 PIPS
Risk-off sentiment weighed on the AUD.