THE POUND RALLY

Looking at WEEKLY chart.... the GBPAUD is at a level of huge support.... looking far left this was once huge resistance... this now looks like a very good double bottom and I see a big push up coming... I have opened a small trade and will add larger if pulls back lower... If you switch to hourly... price pushed off 1.6000 area aggressively...
SL: 1.5800
TP1: 1.7280
TP2: 1.8100

Trade active

GBP fighting hard.. good data helping push GBPAUD up... catch those pips..

Note

Trade has done 150 pips since I entered... some resistance here... maybe a small retrace I will re enter add more

Note

This trade has done 150+ pips since I opened it.. at some resistance but I see more upside and will add on a small pullback

Note

I took a short break from trading and had a trailing stop on this pair a long time ago.. it seems the GBP had a retrace from the original run, but Im loading back up for a continuation on the bull run to keep going.. with the strong AUD news.. the GBP might drop a bit more to check the next fib line or head up from here.. BOE major news in the morning it will help set a path on this pair..

TropicalPhil

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.

TropicalPhil