The AUD lost a lot of ground on the crosses overnight and as I’m sure you know, I’m bullish on EUR/AUD and GBP/AUD and I’m well long of the latter. I expect AUD/USD to range trade 1.0425/1.0650 and I think cable will edge higher towards 1.60. I’m not sure on short term levels for the cross but I still strongly believe that longs are the correct play.
GBP/AUD finally heading my way
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