GBP/AUD: lead by fundamental newsGreat Britain Pound show us a bad expectative of rise of inflation in the cost of living crisis for Britain people and also, some financial analysis expect a long term that Pound could to evaporate the currency worth in the time what there're some points that I want to share you fundamentally here:
What happen in the Bank of England? Where it's the challenge?
1. The rapid deterioration in sterling sentiment reflects the rapid deterioration in the United Kingdom (UK) economy.
2. Almost a quarter of people in Britain say it is harder to pay household bills
3. Retail sales volumes slid by an unexpectedly hefty 1.4% in March from February, and market research firm GfK said consumer confidence slumped this month to close to its lowest level since records began nearly 50 years ago.
4. The International Monetary Fund last week said it expects UK economic growth to be the weakest of all major economies next year with the exception of Russia, and UK inflation to be the highest in the G7.
5. As Rabobank's Jane Foley notes, this poses a "challenge" for the BoE, adding: "Buying interest in the pound could evaporate quickly if recession fears build."
6. If the economic outlook for sterling appears bleak, the political outlook is only making it darker as pressure intensifies on Prime Minister Boris Johnson to resign
So guys, i will share to know and has a clear perspective what happen with the Sterling Pound that I share these 6 points to take in note and I see a bad expectative for all GBP pars with their rivals.
So, technically we see that Pound it's into this bullish channel and into this chartist pattern, we're forming a little descending triangle and also a bearish channel flag perspective that we would to take note that GBP will be lead by bearish sentiment in my own analysis and critic. As Sterling it's into this descending triangle, I will shorting Pound against the Aussie. But note, that fundamental news make a deep impact that we see a great opportunity here. I will put my sell order limit to $1.7769 AUD and SL to $1.7823 AUD (54 pips) and target to $1.7514 AUD (254 pips)
You can to see better the bullish channel here where we're inside of this chartist pattern, also, I interested to make a special analysis to project the medium term and long term of GBP of some of their rivals and know what will be happening in the next months if there're a lot fears in the UK economy in based the inflation.
Good luck if you decide to short GBP/AUD!!!
And also guys, congraluations if you follow my previously siganl in EUR/JPY what we earned 185 pips in this trade. And also, in CAD/CHF that make a down and then, recently up and we loss 35 pips in this trade, but what I thinking that was maniulated and to pay attention, because CAD/CHF still bullish and I'm bullish in Canadian Dollar.
