CHART OF THE WEEK: IT GETS EASIER

Each week, I highlight a chart out of the Quid Report.

After highlighting the Australian dollar last week, the $GBPAUD continues to soar to new highs. This week, the move out of the Fibonacci levels on the correction lower has moved to new, multi-year highs yet again. Momentum is trying to do something about that bearish divergence as bulls are not to be dissuaded. Between a crashing Chinese stock market, a slowing Australian economy and weak commodities, the AUD just can’t get a reprieve from the selling. It is expected to remain weak too for as long as this fundamental trifecta remains a narrative in the market.


GBPAUD DAILY CHART


This chart is an excerpt from this week’s issue of Quid Report. Subscribers receive my research on all major GBP pairs at the beginning of the week, including access to @faithmightfx on Twitter for daily, real-time updates to the weekly report. AVAILABLE NOW.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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