The British Pound vs. the Australian Dollar. Due to its relatively higher interest rates and its correlation to global equity markets, the Australian Dollar is often referred to as a risk currency. Mining, which is Australia’s largest economy sector, has been negatively affected by a slowdown in the global commodity super cycle and a decline in China’s growth.
Our Global Algorithmic Trading Software (GATS) #5 indicates the following for GBP/AUD
The Long Term Trend (LTT) is currently Bullish
The Medium Term Trend (MTT) is currently Bullish
The Short Term Trend (STT) is currently Bullish
The Micro Trend (MT) is currently Bullish
We are bullish on GBP/AUD with potential trade entry signal as follows:
Global Entry Signal : 1.85492
Global Trailing Stop Distance: 1.83927
Global Target Profit : 1.92092
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