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EURGBP: target 0.907
Not much happening on Monday with North-American markets closed for holiday. EUR retraced Friday’s fall against GBP and new shorts from current level look attractive to me. The support line of the uptrend that lasted since August, 3 was broken last week and the correction could extend as low as to 0.9070, which corresponds to 23.6% of the rise lasting since April 2017.
AUDUSD trade idea ahead of RBA
AUDUSD was consolidating in August and has drawn a monthly inside bar in the upper part of the range. There is an RBA meeting scheduled on Tuesday, so we shall see some bigger movement in the pair. I expect the resistance at 0.8 to be broken and will try a long from about 0.7956, with a stop loss under 0.7926 and with the final target 0.813.