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Our free forex signals service trade today is a buy order on the GBP/AUD pair.

The GBP/AUD pair is moving sideways in the short term and it seems determined to resume its growth. Now, it is trying to accumulate more bullish energy before jumping higher. A temporary decline or an accumulation was expected after its previous rally. 

The British Pound is strong also because the UK Flash Services PMI came in line with expectations, while the Flash Manufacturing PMI was reported higher at 58.2 points versus 57.2 expected. Today, the Australian Construction Work Done registered a 0.3% drop versus a 3.0% expected and compared to 2.2% growth in the previous reporting period.

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UK CBI Industrial Order Expectations At 26 Points

The GBP received a helping hand also from the CBI Industrial Order Expectations today. The indicator was reported at 26 points far above 8 points expected and versus 9 points in the previous reporting period. 

Technically, the pair is fighting hard to stabilize above the downtrend line. 1.8498 stands as a static support, the GBP/AUD registered only false breakdowns below this level signaling strong buyers. An upside continuation could be activated by a new higher high. On the other hand, a new lower low could invalidate the upside scenario.

Free forex signals – BUY GBP/AUD at 1.8613

gbp/aud forecast

Free forex signals entry price and takes profit

Instrument: GBP/AUD

Order Type: BUY STOP

Entry price: 1.8613

Stop Loss: 1.8469

TP1: 18799

My Risk: 1%

Risk / Reward Ratio: 1: 1.3

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