The Pound Aussie Dollar.

Good morning Dynamic Traders,

Firstly may I apologise for the lack of updates, but my internet went down and I have been trying to sort it out with much frustration which obviously had the knock on effect of not being able to trade.

However that aside I would like to give a big welcome to Sonia on the sister site and wish her every success.

With not being able to view any charts or attend the recent webinars I am just trying to familiarise myself with the recent price action in the markets and that is why I am going to review a trade that I know many of you are in, the GBPAUD.

Ensure you are managing this trade correctly as good profits have been had on this pair but be sure to take account of confluences happening here.

Across different timeframes there are convergences happening with the MACD indicator both longer and shorter term as shown on the chart and although the major support of 1996 has been breached which does indicate further weakness these convergences are implying at least a pullback may happen in the near future.

Also there are the '000' figures below and there are fibonacci clusters in the vacinity with these, so ensure you are constantly monitoring your trades with the rules to ensure your profits are not given back to the market.

As always, please ensure to do your own analysis before entering any trades.

Have a great weekend.

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.