In the previous article, Splendid Exchange provided an overview of 28 global currencies. Specifically, I looked at their valuations relative to one another and suggested three trading opportunities. In this article, I would like to go into the details and list four reasons to short the British pound - specifically, against the Australian dollar (short GBP/AUD).
Reason One: Technical Set Up
GBPAUD is trading within an ascending channel, which is a bullish pattern. However, the pair is approaching the upper bound of that channel and is facing strong resistance in the 1.930-1.950 area. Already,