GBPAUD has hit a major key level. The results of the election in the U.K are in just over 5 hours. With a major push to the downside and recent rumours of the labour party picking up steam, it seems as though it is used as clear manipulation so as to create MASSIVE volatility in the markets. With that said, i Believe with such a push down of over 300 pips, if we have a conservative party, i see GBPAUD hitting the likes of 1.9600. The reason being for trading this pair over GBPUSD is that the USD also has big news and to trade both we could be seeing multiple whipsaws and can get stopped out at any moment. As AUD is not as volatile and has no news today, i think this is a great pair to trade on for this election. Any trades should be average in with lower risk so as to have a very wide stoploss
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For stops, i'm looking for 1.8850 as my SL, and i'm targeting 1.9600 for TP
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Just as predicted, just didnt think so fast. Ive taken profit at 1.9500, market shuold tap it again as we arent far from it.
+500 PIPS in 7 hours
+500 PIPS in 7 hours