Good day and welcome to my post. I will be analyzing the GBPAUD today and showing how it is forming a double-edged sword.
The prices have been moving in a side-ways pattern, prices has been respecting the both psychological handle( Trendline Resistance and Support).
Now price is tryna retest the support, many will say this is a rising channel and will be looking for opportunities to short the market.
Using Economical Analysis, Great Britain recently signed a 1bn pounds contracts with the Indians. This action will most Likely Boost GBP and we must take that into consideration while trading this.
I am bullish on this pair for now and I hope to go long. Thanks!
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