GBP/AUD marks a unique trade. Further pound weakness is on the cards in the next two months for two key reasons. 1) A potential vote of no confidence in the commons 2) A forced no deal by October 31st which I believe is becoming highly likely as time is diminishing before Prime Minister Johnson must make a decision.
On the technical side, this retest of the key 1.80 level looks perfect before a downside continuation down into that crucial 1.72-3 support zone. A good swing on the cards..
On the technical side, this retest of the key 1.80 level looks perfect before a downside continuation down into that crucial 1.72-3 support zone. A good swing on the cards..
Comment:
A spike to 1.82 and an immediate rejection and meltdown. Now hitting 1.77 and looks like lower is on the cards for next week