Confidence in a quick Aussie recovery was driven by the RBA hold, but questioned by GDP figures. Market participants have aggressively priced in the worse for the UK in terms of growth and expected rate of return; and now traders are wondering whether an equilibrium has been met where negative indicators no longer have a significant impact on price action € an important considerable for Thursdays € BoE decision.

2.2650 (Range, SMA, Fib) -Range Bottom. Ranges conditions are not the norm for GBPAUD. However, the current setup behind this pair offers a better opportunity than what would be considered text book.

GBPAUD Range Looks To High Risk, High Reward and a Fast Pace The best range trades are placed on low volatility pairs that are set within a clear channel and are clear of notable event risk. By this crude definition, GBPAUD doesn € t seem to present a good candidate. However, the congestion developed between.

2.1725 (SMA, Fibs, Trend) The fundamental trade off between the pound and Aussie dollar is considerable.