Wednesday

Short AUD GBP

Post a Comment March 10, 2010 – 8:38 am |   | Permalink |  Print This Post |

Short one mini AUD/GBP at 0.613. Sorry we couldn’t resist.

Sure, UK is in trouble. Australia is fundamentally stronger with commodities and China as our next door neighbour. BUT, one of our rule is: Nothing moves in one direction (which it has so far - look at the chart)

10 Year Chart AUD GBP

Our strategy forward:

1. Short more, aim for topside heavy approach as close to 0.65 as possible. Even if its destined for higher, we believe 0.60 will be a nice pullback area.