50pipsofgrey
AUDGBP near-term LONGAUDGBP has found some support (demand) at the psychological level of 0.50000. It seems that the demand zone is in control, driving prices higher and invalidating previous resistance (supply). As prices fall back to intermediate demand zones, long trades can be initiated for intra-day traders while position traders may add to positions or adjust positions.
AUDGBP will eventually head back to 0.50000 where I expect a big rally. For now, quick trades are preferred for me. I'd look to go long at the moment as prices are so close to major demand.
