BabyPips.com FX-Men Team
BabyPips.com
GBP/AUD: 4-hour
Here’s one for the pound bears! Right now GBP/AUD is having trouble breaking past the resistance, especially since it’s being supported by the 100 and 200 SMAs on the 4-hour chart. The cherry on top of this sweet sundae is that Stochastic is hanging out at the overbought territory. A tight stop above the mid-channel line could get you a decent reward-to-risk ratio but I wouldn’t recommend tightening anything with this pair. After all, currency crosses tend to be more volatile than the majors. Best keep your stops loose on this one!
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