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GBPAUD Close to Confirming 500-Pip Opportunity
We’ve been tracking this 1,440 pip range on GBPAUD since March 4th. The area between 1.7280 support and 1.8720 resistance has kept the pair contained since August of last year. Extensive ranges like this one can offer excellent opportunities. But the question is always the same… When is a good time to enter? That’s a particularly tricky question with a cross like GBPAUD that can become quite volatile at turning points. Look no further than the price action in March. This is where channels can offer some clues. In fact, you could plan an entire trade around nothing more than a channel like the one below. A daily ... (full story)