GBP crosses

Cable looking bullish in early London trade

The proud old English pound is strutting her stuff in early European markets, up against most of the other majors and especially so against the AUD. Don’t be too surprised by any of these moves, remember that  GBP/AUD has fallen a long way and we are currently experiencing a bog standard retracement.

If cable can break and hold above 1.5600 in coming days then I will be declaring a base in place and will start to load up for a good old-fashioned macro short-squeeze 🙂

  1. Hi Sean,

    GBPAUD currently at weekly R3 level (1.6280) cant seem to find any clear resistance level above that apart from Monthly R1 (1.65 – which you mentioned as a potential target) any suggestions on good entry levels?

  2. Hi Sean

    Thanks for the earlier tip on 1.65 as being a potential target. We are almost there :D. Any suggestions on taking profit at this level or leaving it open? I will def be looking at buying into any retrace back down to 1.64 -1.63

  3. Its impossible to go broke taking profits Matthew 🙂 It’s come a long way and prob still goes higher in longer term but there will always be retracements.

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