Another interesting session with the British pound once again in focus for several reasons.
First, of course, Brexit continues to dominate the news, and whenever an item of fundamental news is released it is the context of the bigger picture and therefore has relatively little impact. Second, a volume price analysis anomaly was clearly in evidence on the daily chart for the GBP/AUD. Here we saw a widespread up candle, yet the associated volume was not in agreement with such a strong move. Clearly, the market makers were not participating in the move higher, with the pair duly rolling over a few days later to deliver a clear trading opportunity to the short side.
Finally, we focused on the new release of retail sales to demonstrate volume price analysis in action on the 1-minute timeframe, and moreover the trap moves initiated on any such release, with the volatility indicator revealing its true power.