Trade FOREX with FXCM

  • Award-Winning Platform
  • 24/7 Customer Support
  • Trade Directly on Charts
  • Free $50K Practice Account


DailyFX Home / Analyst Picks / Ilya Spivak

Forex Strategy: Holding Long AUD/USD, Short GBP/USD

By , Currency Strategist
10 October 2013 12:30 GMT

I put on a short GBPUSD position as prices broke trend line support set from late August. The trade has now met its initial target and I have revised my objective to aim for a close below 1.5918. The stop-loss has been trailed to 1.6172, the breakeven level.

See the latest GBP/USD Technical Analysis update here.

Separately, I entered long AUDUSD as technical positioning suggested the markets were ready to begin moving toward realizing my fundamental outlook. The trade remains in play and I continue to target an initial objective at 0.9640. A stop-loss will be triggered on a close below 0.8847.

See the latest AUD/USD Technical Analysis update here.

Want to learn how to invest in big-picture macro FX market trends? Take a look at this video on currency baskets.

provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from

10 October 2013 12:30 GMT