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Gbpaudsell

Buy trade in Bearish longer term move for GBPAUDI would really appreciate any comments or thoughts on this analysis, what are you missing here, if there is anything unclear. Your time is greatly appreciated! Thank you. It appears that GBPAUD reacted on the Weekly S and triggered some buy orders sitting near by 2.02 levels. This was also a previous level of support from the start of this year. Generally I would favour a downside potential over upside. At the moment price is hesitating at around midpoint of the downside channel. I see this to continue will bullish reaction from WS which is also 618 FB level. This is generally important zone for Bulls. What would move GBP up? Is anyone buying GBP at the moment? According to the COT report net Shorts increased last week. Carney mentioned that he is not planing to raise rates any time soon. What would cause any bullishness of GBP? For me only net open interest change and short covering would be only reason why GBP would move up. Number of AUD Shorts increased while number of longs diminished slighty. Investors are not buying but rather selling AUD. Let's see who this pair will react over next couple of days. This might be a short buy trade from current levels.
Short
by FX_Trader_Analyst
GBPAUD SHORTAfter the better than expected Aussie employment report and the Oil price once again rejecting 30$b/b I would expect to see some minor strength in the Aussie today. The combination of the MPC official bank rate votes and other Important data due out in the UK today which I expect to be on the dovish side we should see this pair post further downside. On the technical stand point we have seen the declining trend line rejected and the recent attempt to retest also ended in candlestick rejection. Stops will be above that recent rejection and targets as shown on the chart by the red arrows. Learn to trade like a pro bankonadam.com
Short
by FreeForexSignals4u