GBPAUD momentum to the downside, failure to break resistance
Updated
Swing trade idea. Resistance in yellow as well as next support.
Fundamentals are neutral but uncertain. The UK seems to give into the Omicron hysteria. Australia might have higher commodities price as a tailwind but is also taking extremely coercive measures, bordering on totalitarianism to supposedly curb the virus spread. Both countries are therefore at risk from revolt/riots and popular unrest.
Volatile pair in a volatile world, so be careful.
Fundamentals are neutral but uncertain. The UK seems to give into the Omicron hysteria. Australia might have higher commodities price as a tailwind but is also taking extremely coercive measures, bordering on totalitarianism to supposedly curb the virus spread. Both countries are therefore at risk from revolt/riots and popular unrest.
Volatile pair in a volatile world, so be careful.
Note
As this trade didn't go our way, we are now hedged and in a recovery trade, net long. This is probably going towards the next resistance at 1.90.
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