GBPAUD: Position for an 800 Pip Launch Higher

There is enough support built on this cross that suggests a long opportunity into the 618 level. This is similar to GBPNZD -0.09% , in that the GBP is gaining ground against the commodity currencies and a reversal is underway. Weekly support sits at the 1.62 level. Stops should be kept under blue.

Trade active

Comment:

I am long but intend on adding in the blue rectangle shown below.

Trade closed: target reached