GBP/AUD
https://www.tradingview.com/x/I7mpgvsi
In this scenario, the GBP/AUD trade is driven purely by technical analysis. The price has broken a key resistance level, and now we’re waiting for the retest of that level to enter a long position. The break and retest strategy is a common technical pattern that often signals strong market continuation.
However, from a fundamental perspective, things are unclear at the moment. With multiple high-impact news releases expected this week, including the Federal Open Market Committee (FOMC) meeting, it’s challenging to provide solid fundamental reasoning behind this trade. Markets might react unpredictably to the outcomes of these events, adding a layer of uncertainty.
Given the unpredictability of news-driven market reactions, it’s essential to keep an eye on upcoming releases, even if they don’t directly involve the pair you’re trading. Unexpected market moves are possible, especially in pairs like GBP/AUD, which could see spillover effects from global sentiment shifts triggered by these events.