GBPAUD - Trading At Dual Channel Resistance

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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