GBPAUD has confirmed another bounce from long-term trendline support, combining technical signals with a supportive macro backdrop to set up a bullish swing opportunity.
Technical Highlights:
🔹Trendline support holding with multiple rejections, reinforcing bullish structure.
🔹Stochastic RSI has crossed up from oversold, signaling bullish momentum building.
🔹RSI recovering above 45, showing improving sentiment.
📰 Fundamental Backdrop:
The Bank of England remains hawkish on inflation, keeping GBP supported.
Australian Dollar under pressure as China growth concerns weigh on commodity demand.
Broader risk-on environment limits AUD’s safe-haven appeal compared to GBP.
🎯 Bullish Targets:
✔️ TP1: 2.0727 – First key resistance zone for partial take profit.
✔️ TP2: 2.0874 – Major resistance and next swing target.
✔️ TP3: 2.1000+ – Full potential if momentum extends.
🔒 Stop-Loss: Below 2.0461 – Clear invalidation if support fails.
📝 This setup provides a healthy Risk/Reward ratio with defined invalidation and multi-target upside. Manage actively as the trade develops.
Technical Highlights:
🔹Trendline support holding with multiple rejections, reinforcing bullish structure.
🔹Stochastic RSI has crossed up from oversold, signaling bullish momentum building.
🔹RSI recovering above 45, showing improving sentiment.
📰 Fundamental Backdrop:
The Bank of England remains hawkish on inflation, keeping GBP supported.
Australian Dollar under pressure as China growth concerns weigh on commodity demand.
Broader risk-on environment limits AUD’s safe-haven appeal compared to GBP.
🎯 Bullish Targets:
✔️ TP1: 2.0727 – First key resistance zone for partial take profit.
✔️ TP2: 2.0874 – Major resistance and next swing target.
✔️ TP3: 2.1000+ – Full potential if momentum extends.
🔒 Stop-Loss: Below 2.0461 – Clear invalidation if support fails.
📝 This setup provides a healthy Risk/Reward ratio with defined invalidation and multi-target upside. Manage actively as the trade develops.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.