GBPAUD looks to consolidate in between 1.662xx and 1.670xx until the start of the European session
Dragon setup will give me a indication of market direction but I wont be using it as an entry until further confirmation. If GBP breaks the major trend line I will be looking to go long after further analysis but if it breaks the hourly resistance line I will be looking to short this pair.
I expect the bears are looking to complete another Brexit wave as the Pound continues its downtrend into a tighter zone.
GBP is pushing further into overbought conditions and is now at resistance of a Brexit dynamic trend line dating back 2016.
High market volatility for this pair is expected as BOE news release (4AM EST) will push market markets to either reverse or breakout on this pair.
AUD movements will be under the influence by Asian Data releases in the past 24/7 and Employment and Unemployment data releases.
UK's inflation rates and CPI data has push the pound to surpass expectations against this bearish bias of the economical docket.
Quite a bit of uncertainty for this pair this week but I will be target opportunities on both side of the fence. I will update this idea with a setup
Dragon setup will give me a indication of market direction but I wont be using it as an entry until further confirmation. If GBP breaks the major trend line I will be looking to go long after further analysis but if it breaks the hourly resistance line I will be looking to short this pair.
I expect the bears are looking to complete another Brexit wave as the Pound continues its downtrend into a tighter zone.
GBP is pushing further into overbought conditions and is now at resistance of a Brexit dynamic trend line dating back 2016.
High market volatility for this pair is expected as BOE news release (4AM EST) will push market markets to either reverse or breakout on this pair.
AUD movements will be under the influence by Asian Data releases in the past 24/7 and Employment and Unemployment data releases.
UK's inflation rates and CPI data has push the pound to surpass expectations against this bearish bias of the economical docket.
Quite a bit of uncertainty for this pair this week but I will be target opportunities on both side of the fence. I will update this idea with a setup