GBPAUD Bullish reversal emergingThis is an update on the GBPAUD pair regarding our November 19 analysis (see chart below) where we called for a sell at the top of the Channel Down:
As you see the price action responded with a respectable decline that hasn't yet reached our 1.8300 Target and most likely this is due to the shift of the Channel Down a little upwards. This diverging Channel Down appears to have reached its bottom so it is best to book the profit on the sell.
The 1D MACD is about to form a Bullish Cross and the last such pattern emerged on October 04, four days after the previous Lower Low. As a result we are switching to a buy now with a modest short-term target at the top of the main Channel Down at 1.90000.
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Gbp-aud
GBPAUD - Trading The Channel 📈Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 GBPAUD has been trading inside a big range between our green support and blue resistance.
Lately GBPAUD has been bearish trading inside the falling red channel and it is currently approaching its lower bound.
Moreover, the zone 1.89 - 1.895 is a strong support.
🏹 Thus, the highlighted red circle is a strong area to look for buy setups as it is the intersection of the green support and lower red trendline acting as a non-horizontal support.
📚 As per my trading style:
As #GBPAUD approaches the lower red circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
GBPAUD Sell gaining ground but needs the 1D MA200 to confirm.The GBPAUD pair broke below the long-term Channel Up that it has been trading in since the start of the year and a Channel Down emerged as last week we had a rejection on the 1D MA100 (green trend-line). That is the top (Lower Highs trend-line) of the Channel Down and the most optimal sell entry. However the 1D MA200 (orange trend-line) is still supporting, so we need a candle closing below it in order to confirm the sell (earlier confirmation would be the 2nd MACD Bearish Cross).
In that case we will target the 1W MA100 (red trend-line) at 1.8300 (which will also by a symmetrical to the first bearish leg -5.75% drop). If however we close a 1D candle above the 1D MA100 first, we will take the loss and open a buy that will target Resistance 1 at 1.997800).
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GBPAUD possible expansionPrice is in a bullish trend as it has been breaking highs and respecting lows. It broke the previous high and receded to consolidate for some time before breaking further structure with decent momentum. Due to the nature of this break, price could use the latest strong low as liquidity to reach for a Golden zone within our fvg that was previously unmitigated before expanding upwards to take out our higher latest strong high.
GBPAUD SELL | Day Trading Analysis With Volume ProfileHello Traders, here is the full analysis.
Watch strong action at the current levels for SELL. GOOD LUCK! Great SELL opportunity GBPAUD
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Bullish Outlook for GBP/AUDI believe the GBP/AUD pair remains a favorable buy. It appears to be severely oversold, and on the larger time frames, it continues to exhibit a bullish sentiment. Over the coming weeks, which may extend to a total of 3-5 weeks, we anticipate movement towards our targets. It's advisable to monitor this currency pair closely, as it presents substantial upside potential. Please remember to trade responsibly.
I'll continue to update as needed.
Hope you all have a great trading week.
GBPAUD: Oversold and in need of a reaction.GBPAUD turned briefly oversold on the 1D technical timeframe (RSI = 30.322, MACD = -0.013, ADX = 62.269) while pricing a LLL at the bottom of the Channel Down and the S1 level. The latter in particular can attract considerable buying power to push it for a 1D MA50 and R1 Zone test. This will determine the trend onwards but on the short term following 6 weeks of downtrend, a reaction should be expected. TP = 1.93000.
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GBPAUD Most optimal buy here but bearish if broken.The GBPAUD pair has broken below the first Channel Up (dotted lines) and in extension the 1D MA100 (green trend-line). Currently it is testing the bottom of the second (and final) Channel Up (blue). Technically that is the most optimal level to buy for the medium-term and target 1.997800 (Resistance 1). On top of that, the 1D RSI bounced back after becoming oversold below 30.00, the lowest it has been since September 26 2022, which was the absolute market bottom.
If the price breaks below Support 1 (1.885250) we will have confirmation of a potential long-term bearish reversal. Then the ideal level to enter will be following a rebound on the 1D MA200 (orange trend-line) and a clear rejection near the 1D MA50 (blue trend-line) as we will have confirmation that it has become a Resistance and the market sells long-term. In that case our target will be 1.75000 (towards Support 3).
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GBPAUD: Trendline break, waiting for retestWe can see that GBPAUD has broken the weekly rising trendline with gusto at the end of last week.
We have a small pinbar close on Friday which suggests a retracement back up to retest.
I'm expecting strength to build up for the AUD with the positive signs coming out of China, we can see it is recovering across most crosses, and sterling weakening.
BoE decision on Thursday is important, however I think whatever happens this is a good pair to trade and I'm expecting lots of short pips from this pair over the next few months.
Watching out for the retest and then I'll be starting to short.
Gbpaud more downside, pullback can come too but for shorts
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GBPAUD: Important Breakout & Bearish Outlook Explained 🇬🇧🇦🇺
GBPAUD broke and closed below a solid rising trend line on a daily.
That violation is the sign of strength of the sellers and implies at least a local
change of character.
Probabilities will be high that the pair will drop lower.
Next support - 1.91
For entries, consider an occasional retest of a broken trend line.
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GBP/UAD _ swing trade long ideaGBP/AUD has retraced from its YTD highs in three waves, and hinted at a swing low with a Doji yesterday.
Moreover, the doji formed at a long-term trendline, historical high and 50% retracement level whilst RSI (2) was in the oversold level.
The bias remains bullish whilst prices remain this week's low, with an interim target near 1.9700. Given its established uptrend, an open upside target could also be considered.
GBPAUD 1000+ PIPS TRADE SETUPHello traders , it looks to me gbpaud may start a strong bearish move.
here are our bearish clues :
- the price touched a bearish trendline and formed a double top pattern
- RSI divergence the indicator shows lower highs and lower lows which indicates that the sellers are getting weaker
Trade Confirmation : Breakout of the local bullish trendline and the double top Neckline.
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This is not financial advice just my humble opinion trade safe.
GBPAUD: Curve Analysis (1W)BIG PICTURE TREND IS NEUTRAL
(aggressive risk)
SLO2 @ 2.0233 ⏳
SLO1 @ 1.9850 📉
TP1 @ 1.9115
TP2 @ 1.8495
TP3 @ 1.8040
TP4 @ 1.7335
BLO1 @ 1.7165 ⏳
BLO2 @ 1.6755 ⏳
Based on the 1W chart for GBPAUD, the pair is currently trading in a symmetrical triangle pattern. This pattern is considered to be a neutral pattern, meaning that it could break out to the upside or downside. The price has been consolidating between the upper and lower trendlines of the triangle for the past few weeks, and it is now approaching the apex of the triangle.
The next few days will be critical for the GBPAUD pair. If the price breaks out of the triangle to the upside, it could target the 2.7000 resistance level. However, if the price breaks out of the triangle to the downside, it could target the 1.6755 support level.
The GBP is currently trading near its 200-week moving average, which is a bullish signal.
The AUD is currently trading near its 200-day moving average, which is a bearish signal.
The RSI indicator is neutral, suggesting that the market is neither overbought nor oversold.
The MACD indicator is in a bullish crossover, suggesting that the momentum is turning positive.
Overall, the technical analysis for GBPAUD is mixed. The symmetrical triangle pattern is a neutral pattern, and the other technical indicators are giving mixed signals.
However, the GBP is trading near its 200-week moving average, which is a bullish signal. Therefore, I would lean towards a bullish bias for the GBPAUD pair in the short term — particularly watching a buy signal around 1.9385