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Forex Strategy: Holding Long AUD/USD, Short GBP/USD

Ilya Spivak


I put on a short GBPUSD position as prices broke trend line support set from late August. The trade has now met its initial target and I have revised my objective to aim for a close below 1.5918. The stop-loss has been trailed to 1.6172, the breakeven level.


See the latest GBP/USD Technical Analysis update here.


Separately, I entered long AUDUSD as technical positioning suggested the markets were ready to begin moving toward realizing my fundamental outlook. The trade remains in play and I continue to target an initial objective at 0.9640. A stop-loss will be triggered on a close below 0.8847.


See the latest AUD/USD Technical Analysis update here.



Want to learn how to invest in big-picture macro FX market trends? Take a look at this video on currency baskets.



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