APosner
Long

gbp/aud headed for 2.00+

FX:GBPAUD   British Pound / Australian Dollar
71 0 1
The 4/20 low for the pair marked the beginning of an impressive rally which has no signs of waning. Smashing through resistance areas is the mark of this pair, but more severe resistance is approaching. The 2/16-2/19 swing that marked the start of the selloff before the bottom is getting closer. If price resistance in the 2.0175 area (assuming price goes there) breaks, we can see much higher prices.

The BOE's monetary statement was uninteresting (holding their breath for a possible Brexit) the greatest obstacle to a weaker GBP/AUD             is behind us. For tomorrow and next week there are only a few significant economic announcements, and I see this pair continuing its advance.

There is a growing bearish sentiment that may contribute to a short squeeze higher as well.
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