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  • Joseph Barreca

GBP/AUD Making Some Headway!

GBP/AUD has been a chart on my list for sometime now but is finally starting to make some headway. There really isn't much to go into is, but I'll be looking to go long around 1.87330 to push to 1.92400. Yes, that is a long way to go however it is the next level of resistance for price to get to.


Technicals:

Strong up trend holding above the 200 EMA which gives us a good indication there is lots of room for this to push up. With the recent pullback I'm confident we can come back into a supportive level which is the 50% pullback.


Fundamentals:

With Australia going into hard lockdown, businesses closing, work slowing down and the handouts from the Government, there really isn't much confidence for the AUD to push up, but rather down. United Kingdom is finally coming out of lock down, businesses opening, companies making money and jobs going back in full swing, this gives i

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