AUDUSD is approaching a level of resistance that could act as a roll reversal level. This can equal a great trading opportunity with very good risk to reward. The GBPAUD moves in reverse of the AUDUSD when the AUD gains strength. Also the GBPAUD will move a much larger pip range that will allow a typical risk to reward on the AUDUSD be increased another Reward or two.
AUDUSD trade is good probability setup. If you decide to take the GBPAUD trade, you can play the range and have a nice R:R of 4.0 if you use the range low at 1.9087 level for a stop. Or you can try to let the trade ride and lock in the RR by moving your stop if the pair breaks the resistance level at 1.9262
AUDUSD trade is good probability setup. If you decide to take the GBPAUD trade, you can play the range and have a nice R:R of 4.0 if you use the range low at 1.9087 level for a stop. Or you can try to let the trade ride and lock in the RR by moving your stop if the pair breaks the resistance level at 1.9262