Thursday 26 July 2012

Is it time to buy GBPAUD?

Currently long NZDCAD, I am casting my eye over GBPAUD and it seems to have reacted nicely to a decent soft level of support....one which has been well respected in the past.

Fingers and toes crossed it doesn't run away before the end of today, for a long trade. Even though it is not completely at the bottom of a long term range, it is at a level which has been quite reactive in sending price action on its way to the top of its range in the past!


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1 comment:

  1. James B26 July 2012 at 09:45

    nice divergence happening on the indicators alos, looks like it may turn before getting to the lower levels. Shame its not the other way as it would be a nice carry trade.

    Would you be long GBPAUD whilst still being short GBPNZD?

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