GBPAUD: Going for the highs!! Pay attention this morning!!

If we look at the daily chart (chart below), we clearly see that the GBPAUD pair has a stable bullish (Bull) technical aspect, respecting its dynamic supports (blue zones) at all times.

--> To see the technical detail, we will analyze the chart above which is in H1 time frame.

Since February 13, when the overbought appeared in the oscillator and the MOMENTUM turned bearish (Bear), the price did not stop falling reaching the Fibonacci zone of 61.8% (1.97565). Once that key zone was reached, and respected, the price began to gain bullish strength (Bull) until today.
It is currently in a key zone, which if surpassed, will go directly to attack its previous highs in the 1.99450 area

--> What risks do we face?

High-impact news that will affect both the AUD (at 4:30) and the GBP (at 8:00)

Here are the high-impact news that will be released this morning and the time:

04:30 AUD RBA Monetary Policy Statement Report
04:30 AUD RBA Interest Rate Statement Report
04:30 AUD RBA Interest Rate Decision Forecast (4.1%) Previous (4.35%)
05:30 AUD RBA Press Conference Speech

08:00 GBP Change in Employment (Dec.)
08:00 GBP Change in Jobless Claims (Jan.)
08:00 GBP ILO Unemployment Rate (Dec.)
10:30 GBP Speech by BoE Governor Andrew Cuomo Bailey

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If our investor profile is CONSERVATIVE, we will have to wait until 8:00 for all the news that affect both the AUD and the GBP to be published. But if our profile is AGGRESSIVE, we can use the following strategy:

ENTRY: We will open 2 long positions if the price exceeds 1.98900

POSITION 1 (TP1): We close the first position in the 2.00550 zone (165 pips)
--> Stop Loss at 1.97600 (127 pips).
--> Ratio (1:3)

POSITION 2 (TP2): We open a Trailing Stop type position.
--> Initial dynamic Stop Loss at (-127 pips) (coinciding with the 1.97600 of position 1).
--> We change the dynamic Stop Loss to ( -20 pips ) when the price reaches TP1 ( 2.00550 ).

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SET UP EXPLANATIONS

*** How do we know which 2 long positions to open? Let's take an example: If we want to invest 2,000 euros in the stock, what we do is divide that amount by 2, and instead of opening 1 position of 2,000, we will open 2 positions of 1,000 each.

*** What is a Trailing Stop? A Trailing Stop allows a trade to continue gaining value when the market price moves in a favorable direction, but automatically closes the trade if the market price suddenly moves in an unfavorable direction by a certain distance. That certain distance is the dynamic Stop Loss.
-->Example: IF the dynamic Stop Loss is at -1%, it means that if the price drops by -1%, the position will be closed. If the price rises, the Stop Loss also rises to maintain that -1% on increases, therefore, the risk is increasingly lower until the position becomes profitable. In this way, very solid and stable price trends can be taken advantage of, maximizing profits.