$GBPAUD: Nice long setup

Low risk buy in this cross pair, fundamental risk is that the BoE turns more dovish than the RBA, but it serves as a good hedge for recessionary risks due to rising rates depressing commodity prices which in turn weaken the Aussie dollar.

Time@Mode daily trend is up once again, ready to continue higher as long as it holds up over 1.8685 give or take...

Best of luck!
Cheers,

Ivan Labrie.

Commentaire:

UK data is out, MoM inflation was 1.2% vs expectations of 0.8%, a hefty increase.
YoY is obviously quite high at 8.7%, but it's in flux...

Either way, this gave a nice boost to the Pound vs the Aussie (and Kiwi), specially after the RBNZ monetary policy decision (dovish hike!).

Bond yields surged for the Pound, after CPI, and plummeted for the NZD (likely also affecting the AUD here)

There's now a weekly trend signal active in this pair as well, let's be patient.

Commentaire:

Trade fermée manuellement:

I would rather secure gains and see if we can reenter on retrace or after a consolidation here...Last: 1.89344