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GBPAUD - Trading At Dual Channel Resistance

GBPAUD - Trading At Dual Channel Resistance

Paul Robinson, Strategist

Talking Points:

  • GBPAUD trading at intermediate & long-term channel resistance
  • Overshot top of channels, failed above the psychological level – 20000
  • Not looking for a major decline, but rather a sizable pullback or consolidation period
  • Watching for short opportunities on short-term time-frames (1-4hr chart set-ups)

GBPAUD Daily: Feb ’13 Present

--- Written by Paul Robinson, DailyFX Research

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