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

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.

Take a look at our record on the About Us page. We are in the process of seeding 3 dedicated “follow me” funds – 

1. A diversifed yet concentrated Oil Explorers fund

2. A diversified yet concentrated Natural Resources fund and

3. A Special Situations/Global Macro fund.

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