GBPAUD DOWN

GBPAUD has climbed to new recent highs. As we look into history, our most recent P.A shows a strong Daily level of 1.9150. As we look at current P.A we can see we have just come into tap the level for the third time, as well as making a very small higher high on the daily which shows exhaustion. We should be seeing a decline from this level, with stops at 1.9180. We also could be see a drop, followed by a third drive to the highs where we could see this melt over the next month.