KYEJ4CKSON

GBP/AUD Potential 450 pip short.

Short
FX:GBPAUD   British Pound / Australian Dollar
Following the short on GBP/JPY which bagged over 200 pips there looks to be indication of a similar move on GBP/AUD possibly returning over double.

This pair has been stuck between the 1.87 and 1.73 area for over a year and a half now last month the resistance was retested however failed to break through resulted in price being stuck in a downwards channel. following an impulsive month upwards on Wednesday price is now at a previous support/resistance zone as well as the top of the downwards channel.

I don't let fundamental data influence a lot of my setups however Mark Carney is due to give a speech tomorrow morning (29th april) which could heavily influence the price of sterling.

If price rises and breaks resistance I will be looking for another retest of the 1.87 resistance level with potentially a break above.
Order cancelled: setup was broken now targeting 1.87 key area.