GBPAUD Short term buy into long term sell

21 May 2017

Here we can see the Fib extension of 1.61 closely correlates to existing resistance, this would be a great TP point if you bought in now, once TP is hit I would switch the position around to a short for a bigger retracement down.

26 May 2017

Not

GBP outlook has gone from a neutral to sell over the next 6 months, we may have already seen the high for the year. The trade is still valid for a small short position at 1.7773 but I doubt we'll see it (but you never know...)