GBPAUD: Continuation to the downside expected
I'm expecting a continuation to the downside due to general GBP weakness.
BOA held rates at 4.1%, so did BoE 5.25%, however it looks like the UK is more likely to have a deeper recession. I think the pound is generally over expended so seeing further correction.
We've retraced 38% of the Fib and looking like a doji forming on the 8hr, if it does I'm looking to short.
BOA held rates at 4.1%, so did BoE 5.25%, however it looks like the UK is more likely to have a deeper recession. I think the pound is generally over expended so seeing further correction.
We've retraced 38% of the Fib and looking like a doji forming on the 8hr, if it does I'm looking to short.