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TD trade of the week: Sell GBP/AUD

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GBP/AUD is trading at 1.8288

GBP/AUD is trading at 1.8288

TD Research suggests selling the pound against the Aussie in its weekly FX pick.

They recommend selling GBP/AUD with a target of 1.8060 and a stop at 1.8560.

They noted they are tactically bullish on AUD and NZD and that AUD has a “significant discount on our valuation metrics.”

“With AUD/USD firmly anchored within a tight trading range, we think it may be better to look to certain crosses. Here, we see scope for GBP/AUD downside in the days ahead.”

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