I’m long GBPCHF and short GBPAUD… How could you be going long and short GBP at the same time? Yes, under certain circumstances it could be a good idea… see the reason at the end of this post.
Yesterday I went long on the GBPCHF. It is currently trading in a short term range, and if it breaks the top of the range, I’ll move my stop loss to the breakeven level:
I opened my GBPAUD trade the 25th of June, as the time of this post, it is at +440 pips, and I intend to hold it until it hits my TP order at 1.4903. I just would feel more comfortable once it breaks 1.5072:
GBPAUD Analysis, GBPCHF analysis