Technicals

Once we manage to stay below the 1.13333 level we're definitely looking for a potential sell off prior to market close. we're being very much conservative on this one as its a Friday!

With the GDP announcement scheduled for Friday, June 11 (EST) this can be the final catalyst to decide the next move on this currency pair. Therefore this is definitely one for the watchlist. 

Since the Australian dollar started to correct mid March, we've been very much bullish  from a daily perspective.
Price action now trades around the 66 cents region since failing to break below the 64 cents region on multiple occasions with the last one being the bullish serge that started on May 18

Yesterday we saw GBPUSD fall 140 pips out of the sky rejecting the 1.24100 area and also respecting our famous trend-line.

As GBPJPY opened the week with a 108 pip push move to the downside, first taking out stop orders that started the week around the 132.00 area.

Since the start of April (Q2) we've been very much bullish on this currency pair since the market opened around the psychological level of 0.6000 from a monthly perspective.