GBP/AUD: Looking to add to longs as basing formation emerges

I’ll let you all look at your own daily charts and make up minds up as to whether a basing formation is trying to emerge, but I like the chances and I’m in medium-term building mode. I expect some continued consolidation broadly between 1.4600/1.4950 and I’m hoping for an eventual break higher towards 1.6200. The carry can be an issue here and the consolidation can drag on for weeks so care is needed with entry levels and position sizes.