sedemmler
Long

Convergence/Divergence GBPAUD Long

FX:GBPAUD   British Pound / Australian Dollar
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1
135 1
The GBP needs to keep pace with the AUD on the positive data front, but if it can hang there's potential here for a solid upward move. I'm targeting: 1.68214 first and, second, if nothing fundamental shifts, 1.69283.

Price Target 1 -- Nailed it @ 1:00p.m. EST.

Comments

We hit Target 1 and have stalled. It's looking pretty heavy. But I'm not sure the run is over. It might be worth while to move our stop up from b/e (entry point was 1.6687) to 1.6740, and buy into any pullback here. Be careful though, the AUD's been killing it lately and likely will continue to do so longer term.
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