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ForexCSP

Pound to Australian Dollar: On the verge of falling off the top?

Short
British Pound / Australian Dollar (OANDA:GBPAUD)  
ForexCSP Updated   
OANDA:GBPAUD   British Pound / Australian Dollar
Supply and Demand GBPAUD
1
0
supplyanddemand gbpaud
GBPAUD Pound to Australian Dollar: On the verge of falling off the top?

My analysis shows that the GBP/AUD pair is currently in a risk zone after its recent rally, with a possible downside from the 1.95000 area.


* Euro to Australian Dollar Correlation: There is a strong correlation between the Euro and the Australian Dollar.

My scenario:

* The GBP/AUD pair is expected to fall below the 1.93000 level in the short term.
* If this level is broken, we can see a further decline to the level of 1.90000.

Note: This analysis is not considered as investment advice. Be sure to do your research and consult with a financial professional before making any transactions.
Trade closed: target reached
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