AUD,NZD/FXWW News/GBP crosses/Trade Ideas

GBP/AUD: Intraday short trade in play

  • Stops reported in cable below 1.6100 and we usually get some heavy EUR/GBP demand at this time of the month;
  • GBP/AUD looks a bit ‘toppy’ on the short term charts but it needs to hold below 1.6890;
  • AUD demand reported from real-money funds on dips towards .9535/50.

This goes against my recent bias but I like the minimum 3:1 reward:risk ratio so I’ve gone short at 1.6855 with a tight stop above 1.6900 and a minimum target at 1.6700.

  1. many apologies Leo, totally missed your comment, nay Stevens stopped me out, only cost me 50 pips on sml trade so not too bad. More worrisome is my inability to pick levels and directions at mom so staying v small until the lights come back on 🙂

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