The GBPAUD is attempting to break some key resistance.
The GBPAUD spiked higher with the rest of the GBP pairs, and the risk is a move to the 1.9000 level as we are seeing prices not seen since 2016. Channel resistance is near there as the 161% extension of the last major leg lower comes in at the 1.9163. If the GBP witnesses a major squeeze from longer term shorts, that price would not be unreasonable.
Blake Morrow
