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Aug. 24
Sunday 24 Aug. 2014 01:17

GBPAUD Forming Bullish Base

Here you can find all the latest breaking forex and currency news about GBPAUD Forming Bullish Base including currency analysis and forecasts, live foreign exchange rates, central bank interest rates, and currency trading strategies from experienced fx traders and forex platforms.



GBPAUD exhibits short term inverse head and shoulders potential (bottoming). The setup is made more attractive by the impulsive rally (5 wave) from the lowest level in exactly a year. A break above 14900 would complete the short term formation. Given that the GBPAUD is trading at the low end of its 2 and a half year range, longs may be warranted for at least several weeks.

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

To contact Jamie e-mail jsaettele@dailyfx.com. Follow me on Twitter for real time updates @JamieSaettele

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