GBPAUD Long trade – raising stop to 1.5040. Next target 1.5240

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Our long GBP/AUD trade is playing out nicely and is at a fresh daily high. We exited half our position that was entered into in 2 tranches (at an average of 1.4860) at 1.5020 but are running the balance. 

We raise our stop today to 1.5040 – just below the 3 day exponential moving average – a level that is providing good support at the moment. Next immediate target 1.5240.

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