My First New Year Review of GBPAUD
2010 saw me add a new currency pair into my portfolio for the first time in 4 years. I, like many traders, couldn’t keep from noticing the Australian dollar and its performance during 2010.
Since the start of the new year however, the Australian dollar has weakened as the technicals finally played catch up. The GBPAUD was crying for a retracement even as it continued to move lower.
Last week finally saw the corrective rally that I had been waiting for.
Australian dollar had the bearish close on Friday below the parity level. The subsequent candles also closed below parity as the AUDUSD begins to retrace its blazing hot bull rally of 2010.
