GBPAUD: Update
Well, it seems like GBPAUD decided to stop everyone and their mother out.
In the chart I plotted a big monthly wedge/triangle every technical trader out there sees, which shows a clear fake breakout above, just an interesting thing to keep in mind, while the latest daily uptrend signal target got reached on the second day, way ahead of time.
This fact makes me consider fading the advance, but after taking a hit I'm seriously doubting it.
Are these feelings important? I think so, it's possible it will work now, after stopping everybody out, me included.
As for the technical chart, the monthly target isn't far off, and we have a few days left in June, but I think it will turn into a failure and that GBPAUD will take a nose dive from here.
I'm willing to take a new short this time with a stop above the monthly target and a monthly highest low level.
If gold does turn up, and AUDUSD too, which I think will happen soon, possibly even today, then this pair will probably start to fall at last.
In the chart I plotted a big monthly wedge/triangle every technical trader out there sees, which shows a clear fake breakout above, just an interesting thing to keep in mind, while the latest daily uptrend signal target got reached on the second day, way ahead of time.
This fact makes me consider fading the advance, but after taking a hit I'm seriously doubting it.
Are these feelings important? I think so, it's possible it will work now, after stopping everybody out, me included.
As for the technical chart, the monthly target isn't far off, and we have a few days left in June, but I think it will turn into a failure and that GBPAUD will take a nose dive from here.
I'm willing to take a new short this time with a stop above the monthly target and a monthly highest low level.
If gold does turn up, and AUDUSD too, which I think will happen soon, possibly even today, then this pair will probably start to fall at last.
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