New Signal GBP/AUD

*Trade Update: The Global Currency Scalper scalped the trade for 12.6 Pips, we are fully out of the position.

As of 12/15/2014 @ 8:24 a.m. EST:

We have identified GBP/AUD as a long candidate with a purchase price of 1.90874 or higher.  The long-term trend on the 1 hour chart is bullish as well as the 4 hour and daily.  The pair has had a small pullback which bounced off the 38.2% Fibonacci level maintaining its long-term uptrend.

The Global Currency Scalper would like to see GBP/AUD clear its small pullback trend-line by 5 to 15 pips before entering a position.  A long trade could easily see a rally to the figure of 1.91000 for a quick scalp.  If that level is cleared the next stop could be 1.91240 before ultimately challenging the 1 hour high of 1.91651.

Our stop level would be set at 1.89650 so please set your trading size accordingly.

*PRICE UPDATE: entry has been changed to 1.90775 or higher as of 12/15/2014 @ 9:05 a.m. EST.