BabyPips.com FX-Men Team
BabyPips.com
GBP/AUD: 4-hour
Thanks to last week’s moves, GBP/AUD had broken a rising channel pattern that had been holding since mid-October. What’s interesting to note is that the channel’s previous support is currently serving as resistance for the pair. Of course, it also doesn’t hurt that Stochastic is chillin’ like a villain on the overbought territory. A short at market prices with a stop above the SMAs could get you decent pips if you aim for the previous lows while a buy order with a stop below Friday’s lows is also a good idea if you think the pair isn’t done with its uptrend.
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US economy: slower growth with stronger inflation
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