I have moved to Australia and thinking that the GBP would improve it has steadily gone down.
So instead of trying to make AUD, I am thinking of making GBP. So I am planning to buy AUD now and then buy back GBP hoping the AUD continues to get strong. Once GBP then starts to strength buy AUD back.
Hoping I will make more that just sitting and waiting.
Will this work?
AND
I think the GBP/AUD could get as low as 1.80. What are others thoughts on this.
it is worth ago…atleast demo trade it, what have you to loose…i think your explanation is bit confusing on your intentions…
sounds like you have a long term trade in mind were most retail type traders like people on this forum are traders who are generally looking for intraday trading opportunities - trades that would last a day - maybe longer…what time frame do you have in mind?
the spread is high in this pair but the daily range of the pair is high too which can give you many pips…
I dont think many people here would even had looked at that pair - as most tend to stick to the majors being eur/usd, gbp/usd, usd/jpy…etc or if you interested in aussie dollar, try the aud/jpy or aud/usd?