GBPAUD H1 AnalysisGBP/AUD is heading fast towards the .9350 area, which is right around a broken trend line, 38.2% Fib, and the 100 SMA that has just crossed below the 200 SMA.
Are we looking at a break-and-retest setup in the making? The pair is still a pip or two (or fifty) away from an actual retest, so you still have time to design a trading plan if you’re planning on trading this setup.
A short trade at the Fib levels would make for a good trade especially if EUR/NZD drops back to its 1.9200 previous lows.
If you’d rather buy the pound against the Aussie, however, then you’ll want to wait until the pair pops above the SMAs and aim for possible retests of the 1.9450 or 1.9700 previous areas of interest.
