GBPAUD: Strong buy opportunity for a final push.GBPAUD is neutral on its 1D technical outlook (RSI = 51.562, MACD = 0.005, ADX = 38.182) as the price has pulled back to the bottom of the bullish wave of the 1 year Channel Up. That is technically the final buy opportunity before the rally to the top of the Channel. All prior bullish waves made a rise of at least +4.46%. As long as the 1D MA50 supports, the top of the +4.46% range will be our target (TP = 1.99500).
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
Gbpaudtrading
GBPAUD: Short term bullish trade.GBPAUD is practically neutral on its 1D technical outlook (RSI = 44.487, MACD = -0.002, ADX = 28.797) as the LL leg of the Channel Down was negated by the Double Bottom that was formed today. The 1D RSI turned upwards on a HL trendline and this is a short term bullish call, targeting the top of the pattern (TP = 1.94000).
See how our prior idea has worked out:
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
GBPAUD: Oversold and in need of a reaction.GBPAUD turned briefly oversold on the 1D technical timeframe (RSI = 30.322, MACD = -0.013, ADX = 62.269) while pricing a LLL at the bottom of the Channel Down and the S1 level. The latter in particular can attract considerable buying power to push it for a 1D MA50 and R1 Zone test. This will determine the trend onwards but on the short term following 6 weeks of downtrend, a reaction should be expected. TP = 1.93000.
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
GBPAUD: Surgical buy and sell trades until the Channel breaks.GBPAUD is trading inside a Channel Up and the recent rejection on its HH trendline has turned the 1D timeframe neutral technically (RSI = 51.719, MACD = 0.007, ADX = 31.058). This is a sell signal which on the short term extends to the 1D MA50 (TP1 = 1.891500). If the price action closes a candle under the 1D MA50 and the HL trendline, we will sell again, targeting the bottom of the Channel Up (TP2 = 1.8800).
Any holding of the 1D MA50 or the bottom of the Channel Up, will be a buy signal which targets the 0.5 Fibonacci level from each bottom.
If the price closes under the Channel Up, we will sell for a third and final time, aiming at the 1D MA200 and S2 (TP3 = 1.84000).
Prior idea:
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
GBPAUD top-down analysisHello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GBPAUD: Bullish fractal.GBPAUD is consolidating after the 1.9150 bottom.
Levels to watch:
- The Resistance is at 1.9750 and the Support at 1.9150.
- The MA50 on the 4H chart rejected the first upside attempt and the price is now attempting the second one.
- The MA200 may provide support near the 1.91500 level.
- The RSI is repeating a sequence previously formed after a bottom. This strengthens the bullish case.
- The MACD has turned bullish after the 1.9150 low.
Projection:
- Based on the bottoming sequences on the 4H RSI and MACD, it seems like GBPAUD ahs hit a local low and once a candle fully closes above the 4H MA50, it may repeat a 2.50% rise. If the Support breaks though it should seek contact with the Higher Low trend line.
If you like this idea give us a like, follow and share your thoughts in the comments section below. Remember to stay tuned for future technical analysis , news, updates, and more from PrimeXBT!