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Gbpaudsell

GBPAUD Downside Continuation Following a tight consolidation phase, GBPAUD has broken the bullish TL that originated from late-2017. With a test & rejection of the consolidation from underneath as well as a new lower-low, we have confirmed bear-bias. A counter-TL has brought price back to a key daily level that held as resistance late 2017 / early 2018 & was used as support for a bounce more recently before failing shortly thereafter. This would be an ideal location for a lower-high to be set & for price continuation to the downside. Downside Targets: (1) Weekly Level around 1.7600 (2) Previous Lower-Low circa 1.7400 (3) Daily Level circa 1.7100 Although 1.7600 is a crucial weekly level, a lot of remaining Buy interest may have been eaten up in May & June as there was plenty of chop & consolidation around this level. If this is the case, 1.7400 is a clear target one. If open buy interest remains, another consolidation period could be in the mix around this level. If we indeed begin to rally off of 1.7600, our sell bias can only be switched if price cracks the 1.7950 handle definitively, at which point we will be targeting the top of the consolidation area / weekly level around 1.8400.
Short
by apaqu
GBP AUD - Ready to go down?Hello everyone traders! Just a simple analysis about GBP-AUD , there are 3 signals that make me think to go short on this pair: 1) The price touched an important resistance zone around 1.79500. 2) Market will close really soon and is going to close with a bearish engulfing daily ( strong bearish candlestick pattern) 3) Touched 0.5 fib zone. Fibonacci started from the high around 1.85 zone of the 26/04/2018 to the low around 1.74 zone of the 06/06/2018 As you can see from the arrow that's pointing downside , a strong bearish impulse did the retracement and now i think that's over.Will go in lower timeframe to find a good entry , a first profit zone might around 1.76500 where EMA 200 in daily timeframe may act as support. While a 2nd more ambitious profit zone might be 1.75 zone , previous low zone. Obviously that's just my analysis , invite you to leave a comment and share with me what you think about this pair. Hope to have a nice day and a nice weekend traders. See you next time!
Short
by maro9392
(Sell) GBPAUD Technical Analysis for April 19, 2018Hello Traders, If anything, I really think it is the best time to buy some AUD, earn some positive swaps and hold this for a long time. Why? Well, we can take a top down approach and consider some technical formation first from the weekly chart. First, notice that since last year GBP has been charting higher and in this pair, it is a 1000 pips away from recovering post Brexit collapse. As you saw in 2016, that GBP depreciation was vicious. At the moment though, basing our decision on technical formation we have a reason to resume selling. To begin with, there is a clear distribution and not only are sellers (AUD buyers) expanding but look at those lower lows and diversion relative to the upper BB. Fact is, GBPAUD has been moving horizontally since following that over-extension by late March 2018. Like the weekly chart, there is a stochastic sell signal turning from deep the overbought territory. That’s not all, yesterday’s bearish engulfing pattern would be a good hint of sell pressure. Indeed, because of that drop we saw prices breaking below a minor support trend line. Because of this, my recommendation is simple, sell GBP and trade GBPAUD as follows: Sell: 1.819 Stop Loss: 1.83 Take Profit: 1.79, 1.758, 1.71 and 1.66 Let me know what you think!! Have a good trading day. This TA was originally published by Dalmas Ngetich at Forex.Today
Short
by Kipyegonn