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Thomas Long, Course Instructor

This daily chart shows a series of lower highs and lower lows which is the definition of a downtrend. While traders fight it out on determining the direction of the USD or the JPY, these other pairs can offer some good trading opportunities for those who are paying attention. This pair will remain in a downtrend as long as it can remain below the 1.8360 sell side high of November 2nd.


I would continue to look for selling opportunities as long as GBP/AUD stays below the November 2nd high of 1.8360.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.