GBP/AUD Major Trendline Break

GBP/AUD Major Trendline Break

The GBP/AUD just broke a major trendline last week and the price is now trading into an important support and resistance area. A bounce could turn this into a very large head and shoulders pattern. Other traders are waiting for a trendline pullback.

The GBP/AUD is negatively correlated to the Gold price because the Australian Dollar is usually positively correlated to Gold.

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