GBP/AUD bears are back in play regardless of hawkish BoE. As expected, the Bank of England (BoE) raised the Bank Rate by 25bp to 0.50% and announced the beginning of "passive QT" (ceasing reinvestments of maturing bonds) last week. However, the big surprise was that four out of nine policymakers voted for a 50bp rate hike.
In this pair, technical analysis shows a technical figure Triangle. The Triangle broke through the support line on 08/02/2022. GBP/AUD is forming a bearish formation on a daily chart. If the price holds below this level, we will have a possible bearish price movement with a forecast for the next 4 days with a target of 1.8856. According to the experts, your stop loss should be around 1.9180 if you enter this position.
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In this pair, technical analysis shows a technical figure Triangle. The Triangle broke through the support line on 08/02/2022. GBP/AUD is forming a bearish formation on a daily chart. If the price holds below this level, we will have a possible bearish price movement with a forecast for the next 4 days with a target of 1.8856. According to the experts, your stop loss should be around 1.9180 if you enter this position.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
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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.