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Gbpaudanalysis

GBPAUD: Preparing For Sells As Price ReversesPrice just reversed on the daily timeframe. Buyers were pushing GBPAUD to the upside, but now that AUDUSD is increasing in strength, GBPAUD is decreasing. These two currency pairs are whats called negative correlating currency pairs. The pair they have in common are AUD. It's like a seesaw. AUD is in the middle. If GBPAUD increases AUDUSD will increase. If GBPAUD decreases AUDUSD will increase. There are plenty of websites to find positive and negative correlations. A quick Google search should do the job. Be sure to focus on pairs that move 70 to (-70) with and against each other. AS far as GBPAUD, I'm on my hands until price pulls-back. We don't know how long price will decrease until the pullback happens. Press 👍🏽 if you enjoy this analysis and be sure to comment your thoughts and questions below. Remember, let us be kind to one another and provide value, not just random thoughts.
Short
by ShaquanLopez
GBPAUD | perspective for the new weekThe Pound has been trending higher since the beginning of last year and has since been rejected at A$1.915area on two separate occasions (August 2021 and February 2022) thereby leaving a clue for selling opportunity if the price does not break out of this area. Tendency: Downtrend (Bearish) Structure: Supply & Demand | Trendline | Reversal pattern (Double Top) Observation: i. Zooming in on the daily timeframe, the visual representation of a line drawn under pivot lows reveals the prevailing direction and speed of price action in the last 3 months. ii. However, after testing the major supply zone around the A$1.92 area; price action appears to began a spiral downward a phenomenon that wants to be similar to what happened in August 2021. iii. The appearance of a double top structure within an important supplication (A$1.92) area appears to be confirmed when price did a breakdown and retest of its neckline in the last couple of weeks. iv. In this regard, I shall look forward to a breakdown of the trendline for confirmation to open a short position on this pair in the coming week(s). v. Hence, the below trendline remains a comfortable area to sell the Pound... Trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 400 pips. Risk/Reward : 1:3 Potential Duration: 5 to 10days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
GBPAUD AnalysisHello Traders, Hope you are having an amazing week ! I am short biased on GBPAUD for the rest of the week, we are breaking impulsively and i expect further continuation to the downside. I have already taken a position earlier in asian session, hope to see a bit more correction so i can scale in another position. Wishing you a profitable week ahead! Disclaimer: this is not financial advice, charts we share should only be used for educational purposes ETGL Team 💛
Short
by Eleventgl