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Gbpaudsignal

GBPAUD | Perspective for the new weekA Breakout of channel negated my speculation on this pair as price continued to find new highs (see link below for reference purposes) and the appearance of a Double Top structure at this juncture in the market insinuates a risk of further decline if price successful breakdown Neckline @ AU$1.87800. Positive development unfolding as the Reserve Bank of Australia (RBA) is expecting that once the covid restrictions end, the economy would stage a quick rebound as it revised down its 4Q GDP forecast by 0.75%. Tendency: Downtrend (Bearish) Structure: Supply & Demand | Reversal pattern (Double Top) Observation: i. It is very glaring that the Pound has imposed a show of strength over the Aussie since the beginning of the year 2021 hereby registering an 8.7% gain to culminate at AU$1.89800 at the end of July 2021. ii. The appearance of Double Top structure at the very peak of the Bullish run inspires an extremely bearish technical reversal pattern after the price touched a peak two consecutive times (AU$1.89800 & AU$1.89230 respectively) with a moderate decline between the two highs. iii. Even as sellers continue to make attempts to close below Neckline @ AU$1.878000 in the last two weeks, positive developments from the RBA incites a possible strength for the Aussie at least for the meantime as we anticipate a Breakdown of AU$1.87800 in the coming week(s). iv. In this regard, I have identified a supply niche around AU$1.88500/1.88740 - an area I suspect momentum for selling opportunity as below key level remains a comfortable zone to open a position. v. A successful Breakdown/retest of Neckline shall be an opportunity to add a position to our existing position. vi. For the meantime, I am assuming that the Bearish expectation might be a correction of the impulse leg (see weekly chart below) until proven otherwise...Trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 200 pips. Risk/Reward : 1:4 Potential Duration: 3 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
1
GBP/AUD:NEW SWING OPPORTUNITY+STOCH DIVERGENCE|LONG 🔔Welcome back Traders, Investors, and Community! Check the Links in Description and If you LIKE this analysis, Please support our page and Ideas by hitting the LIKE 👍 button Traders, if you like this idea or have your own opinion about it, please write your own in the comment box . We will be glad for this. Feel free to request any pair/instrument analysis or ask any questions in the comment section below. Have a Good Day Trading !
Long
by FOREXN1
3
GBPAUD Has Broken Below the Short Term Support Welcome back Traders, Investors, and Community! Hi Traders, GBPAUD on H4 has been running in the Bullish Channel, after the last rejection from the Resistance broke below the Short term Support and it might go lower however it could go up again for another retest before going down. ⬇️Sell now or Sell at 1.8584 ⭕️SL @ 1.8656 ✅TP1 @ 1.845 ✅TP2 @ 1.8297 ✅TP3 @ 1.8145 We will have more FREE forecasts in TradingView soon ❤️ Your Support is really appreciated!❤️ Have a Profitable Day
Short
by Fibonacci-Signals
2
GBPAUD | Perspective for the new week | Follow-up detailsWith over 600pips in our direction since my last publication on this pair (see link below for reference purposes); The price hit a peak around AU$1.85000 in June 2021 and has since then continued to find lower lows. The appearance of a Double Top structure on the chart is a very strong clue that hints at a reversal momentum building as we experience a significant Breakdown of Key level I @ AU$1.84100 during the course of last week trading session. In the UK, the newly appointed Health Secretary Sajid Javid insisted that the reopening remains intact, showing confidence about returning to normal. However, as cases continue rising – and hospitalizations are inching higher – market participants tend to cast doubt over loosening of restrictions on July 19 which might have a negative impact if not indecision on the Pound in the coming week(s). Tendency: Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Channel | Reversal pattern (Double Top & Triple Top) Observation: i. It has been a Bullish run for the Pound since the beginning of the year - 2021 hereby hitting a peak @ AU$1.85000 which is followed by a lower high to transition into a Descending Channel. ii. The inability of price to touch and surpass the previous high (AU$1.85000) increases doubt on a further rally as a Double Top pattern emerges on the chart. iii. Double Top: We do have an extremely bearish technical reversal pattern in play after the price reached a peak two consecutive times (AU$1.85000 & AU$1.84800 respectively) with a moderate decline between the two highs. iv. Even as we await a confirmation which will happen if the price falls below the support level @ AU$1.82700 (Neckline of Double Top) that equals the low between the two prior highs; there is an evident structure that occurred between 30th June & 2nd July 2021 which is characterized by multiple rejections of AU$1.84600 (Triple Top) that signals Bearish tendency in the coming week(s). v. TRIPLE TOP: formation of three peaks moving into the same zone @ AU$1.84600, with pullbacks in between can be considered complete immediately the price broke down pattern support @ AU$1.84000 on the 2nd of July 2021, indicating a further price slide in the coming week(s). vi. The early hours/days of the new week might see a price climb to test the Neckline of Triple Top @ AU$1.84000 to incite further decline. vii. If a climb happens, I have identified a niche around AU$1.83900/1.84400 for selling opportunities. viii. A plunge below Key level II @ $1.83500 (Breakdown/Retest) might welcome an addition to the existing position and a further plunge below AU$1.82700 welcomes another addition... Trade consciously! :) Trading plan: SELL confirmation with a minimum potential profit of 150 pips. Risk/Reward : 1:6 Potential Duration: 3 to 7days 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
2
GBP/AUD short IdeaFundamental side of the idea : The AUD by contrast is currently pressured alongside falling Iron prices. If these prices keep falling then AUD will face weakness. The Australian economy exports large amounts of Iron ore, so its price impacts the AUD. On The Other side we are seeing Inflation climbing faster , and Metals are making new High , and that should serve and make AUD strong again . Ultimately, the pound remains sensitive to the trajectory of UK inflation and the Bank of England’s monetary policy. UK inflation jumped to 1.5% in April from 0.7% in the prior month, though remains well below the BoE’s 2% target. There is certainly plenty of scope for the BoE to substantially tighten monetary policy should it view inflation as a threat, a development that could be significantly bullish for the pound. But we still Far away from that . Technical side of the idea : According to the technical analysis of the pair: So far, despite the weakness of the upward Trend , i am seeing a significant weakness on GBP , starting from forming a continuation pattern , to not breaking above some Fib Levels that were critical . P.S : The weak US dollar provides some reason to be Bullish on the Australian Dollar . Thank you . Do Not hesitate to Contact me For any kind of Quist . S.Sadki
Short
by SaraSadki