gbpaud

British Pound Sterling vs Australian Dollar

GBP/AUD

Update 03/06/2015

Confirmed T2 target for this D (or F) category interaction is 19571.

Update 02/06/2015

When I first set eyes on this pair in early April I was struck by the quite outstanding cyclicity and dominance of the 80 day cycle since the 18 month low, back in September of last year. The lower chart below illustrates this. I wish I had found this instrument months earlier! Anyway, unfortunately for me the final 80 day cycle of the 40 week which, by the default phasing, has occured,  was less than satisfactory. Infact it was downright messy.

There is an outside chance the 40 week is still to come but I am working from the basis that the low on May 6th was a 40 week and therefore an 80 day. In this case the current interaction with the 20 day FLD is a ‘D’ with a T2 target around 19550 (to be confirmed). If the 40 week is still to come it will be an ‘F’ category and very bearish – but I think that is a remote probability at this point. Either way it is a short transaction chance!

GBPAUD_£__daily_02_06_2015GBPAUD_£__daily_02_06_20152

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