As mentioned in the earlier views, there's a possibility for a rise till 1.3385.
It might be a wedge, and just a pullback. Still, if it breaks the 1.315 level, it can possibly go up to 1.33.
If not, exit position.
EP: 1.3030 // SL: 1.2965 (-85pips) // TP: 1.3150 (+120pips)
The recent bull on GBP is due to the recent EU referendum poll having more 'Remain' than 'Leave'.
It has almost come to an end with the highs not being able to complete a higher high.
Thus, now it is time to short with U.S. rate hike on the way.
Current: 1.465 // SL: 1.475 (-100pips) // TP: 1.445 (+200pips) 1:2
Long opportunity @ 1.2900 (38.2% of fibr) // SL: 1.28 (-100pips) // TP: 1.3690 (+790pips)
Another confirmation you can wait for is EMA7 cutting SMA200; but that would a bit later.
Bulls will continue to takeover and head to that level only if U.S. rate hike do go through.
Short on possible pullback to 0.721
RBA may cut i/r. (http://www.businessinsider.com.au/this-is-how-long-the-rba-tends-to-wait-before-cutting-rates-again-2016-5)
U.S. highly likely to increase i/r given that U.S. new home sales soared to the highest level since the start of 2008 in ...
R2 (Major level): 1.46
S1: 1.4280 (20 pips below round number 1.4300)
S3 (Major level): 1.37 -- A support level since 2000s
Current trade idea: Short @ 1.4350 // TP: 1.4280 (+70) // SL: 1.4420 (-70) //
On the count of Brexit, GBP will likely face high volatility until June 23 referendum.
AUDUSD will likely retrace back to fib .618 level @ 0.75
Following that, depending on the outlook of USD, it will determine how far it will continue down.
Since the general consensus for June rate hike is probably out of the window, and already priced in, the only thing that can allow AUSD to progress upwards is ...