GBPAUD - Potential long?
So,
Brexit uncertainty hammered GBP last week after the internal market bill caused outrage within the EU, and bought the prospect of No Deal back into focus.
GBP sold off heavily against most pairs. This sell off was quick and sharp - potentially putting GBP into oversold territory.
But with this trade it is absolutely critical we wait for price action confirmation!!! - GBP has been in freefall so we dont just want to go long in a dropping market
Personally I think GBP will drop another 40-50 pips and then show some uptick again. IF we do get into this trade, it will likely take a 2 or so weeks to reach the top level targets.
Brexit uncertainty hammered GBP last week after the internal market bill caused outrage within the EU, and bought the prospect of No Deal back into focus.
GBP sold off heavily against most pairs. This sell off was quick and sharp - potentially putting GBP into oversold territory.
But with this trade it is absolutely critical we wait for price action confirmation!!! - GBP has been in freefall so we dont just want to go long in a dropping market
Personally I think GBP will drop another 40-50 pips and then show some uptick again. IF we do get into this trade, it will likely take a 2 or so weeks to reach the top level targets.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.