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Gbpaudanalysis

A Unique Perspective on GBPAUD PairBased on our analysis, we anticipate a bullish trend for the GBPAUD pair in the coming weeks. The fundamental factors indicate a relatively stronger outlook for the GBP compared to the AUD. Positive economic data and improving sentiment in the UK, coupled with potential uncertainties surrounding the Australian economy, suggest a favorable environment for the GBPAUD pair. Our profit target for this trade idea is set at 1.97500, representing a significant upside potential. We anticipate a gradual appreciation of the GBP against the AUD as market conditions align with our analysis. To manage risk, we establish a stop loss area at 1.87900. If the trade goes against our prediction and the price reaches this level, we would exit the trade to limit potential losses.
Long
by chsrg
GBP AUD Sell Opportunity (Pullback)-Price previously sold off and found support at the 1.85 QP level -On the weekly TF, price closed as an indecision candle/morning star candlestick pattern, hinting that price was ready to began a bullish push. -On the daily TF, price formed a double bottom, then made a bullish push before reaching a resistance/supply zone. - I am anticipating price to make another bullish attempt but sellers ultimately remaining strong and price possibly closing as an indecision candle/even star candlestick reversal pattern. - I believe price will pull back and test the area 1.8801-1.86735.
Short
by NoCeilingsTrading
GBPAUD Sell & Buy Setup On H4GBPAUD is currently trading at 1.8863. If it is rejected from the resistance area, which is at 1.8902, it will then move down to the support level at 1.8744. However, if it successfully breaks above the resistance area, you can consider buying on its retest, aiming for the next resistance at 1.9165 for GBPAUD. Disclaimer: The information provided is for general informational purposes only and should not be considered as professional advice. Use at your own risk.
by ShaaniReal
GBPAUD regional Double BottomThe GBPAUD currency pair is showing indications of a potential reversal based on a double bottom pattern observed on the regional chart. This pattern suggests that the price has reached a support level twice and is likely to reverse its downtrend. Traders considering this potential reversal may set a take profit level at 1.870, anticipating an upward price movement towards this target. To manage risk, it is recommended to place a stop loss at 1.851, which serves as a safety measure in case the reversal does not occur as expected. While the double bottom pattern provides a bullish signal, it's important to exercise caution and consider other factors such as market conditions, fundamental analysis, and overall market sentiment. Technical patterns alone do not guarantee the success of a trade, and monitoring the market closely is essential to adapt to any changes that may occur. Looking forward to read your opinion about it.
Long
by TopgOptions
2
GBPAUD SHORT Risk RisingThe sharp pullback in GBP/AUD raises the risk of a deeper setback in the short term. GBP/AUD’s sharp retreat in recent days has made the cross vulnerable to a deeper setback in the near term. This follows a retreat from strong horizontal trendline resistance at about 1.9200 (see chart). The 14-week Relative Strength Index has retreated from overbought conditions – levels that have been associated with a pullback in the cross. GBP/AUD is testing a vital floor at the early-May low of 1.8590, so some rebound can’t be ruled out. But chances are that it won’t hold the support for too long. Any break below could open the door toward the early-April low of 1.8250. After a spectacular run of outperformance since February, UK macro data have generally underwhelmed since mid-May, according to the Economic Surprise Index. Nevertheless, the strong-than-expected data since the start of the year has prompted upgrades to the economic outlook for the current year. Meanwhile, the slower-than-expected moderation in UK inflation in April has raised the odds of a Bank of England (BOE) rate hike this month. BOE hiked its benchmark rate by 25 basis points in May after pausing in April, and the market is pricing in almost four rate hikes by the end of the year, taking the terminal rate to 5.41% from 4.50% currently. The next week bring UK jobs, GDP, and manufacturing output data ahead of the BOE meeting on June 22, which could stir things up a bit for GBP. Until then, the pound could be due for a breather after a spectacular run against some of its peers.
Short
by DaveBrascoFX