Counter Trend BuyPurely counter trend hence tight stop loss. There's potential for long term buys if the fundamentals can align.
GBPAUD trade ideas
GBPAUD - Bearish StructureOANDA:GBPAUD has broken the higher low on 4 hr and formed a bearish price structure. Expecting the bearish momentum to continue until close of markets on Friday!
Anticipating GBP/AUD Pullback: short term Fundametnal Analysis:
United Kingdom shows stronger economic performance compared to Australia. The UK's GDP growth rate is higher at 0.7% versus Australia's 0.1%, and its annual GDP growth is positive at 0.3% compared to Australia's 1.1%. Inflation in the UK is under better control at 2% compared to Australia's 3.6%, with a lower month-on-month increase. Additionally, the UK's interest rate is higher at 5.25% compared to Australia's 4.35%, which typically attracts foreign investment and strengthens the currency. The UK's unemployment rate is slightly higher at 4.4% compared to Australia's 4.1%, but the UK has a higher manufacturing PMI (50.9) and services PMI (52.1) than Australia's 47.4 and 50.8, respectively, indicating stronger business activity. Although the UK's balance of trade is negative, Australia's significant decrease in the current account and trade balance indicates larger economic challenges. Therefore, given these indicators, the British Pound (GBP) appears to be stronger than the Australian Dollar (AUD).
Technical Analysis:
OANDA:GBPAUD on the daily timeframe shows a strong upward movement, with the pair recently reaching a high around 1.9579. The RSI (Relative Strength Index) is above 75, indicating overbought conditions which suggest a potential pullback. The marked resistance zone around 1.95388 seems to be a critical level, where price action is likely to face selling pressure. A bearish divergence is anticipated, where the price could fall to the first target (TP1) at 1.93302 and possibly further to the second target (TP2) at 1.92531, This analysis indicates a short-term bearish outlook following the current overbought conditions.
overall view:
IDEA GBPAUD SHORT POSITION Pair : GBPAUD
Position : SHORT ( SELL )
Entry Price : 1.94740 STOP LOSS @ 1.95042
TP 1 @ 1.94400
TP 2 @ 1.94100
TP 3 @ 1.93500 ( Trailing SL )
GBPAUD neutralI believe that GBPAUD might go higher today, but there are no signs of it going either direction at the time of posting this.
I will sit on my hands and wait for a comprehensive setup.
GBP_AUD LOCAL LONG|
✅GBP_AUD gain to retest the support of 1.9350
But it is a strong key level
So I think that there is a high chance
We will see a bullish rebound and a move up
LONG🚀
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GBPAUD - Bullish TrendGBPAUD formed Bullish divergence on RSI, is it start of a Bullish Trend?
Entry, Stop Loss & Take Profit are mentioned.
GBPAUDWe can attempt to short GBPAUD from specified level as it break HL , also bearish divergence occur indicate that it moves downward.
SL , TP mention in chart.
GBPAUD neutralI believe that the pair is neutral even though in the long term I am looking to buy.
Reasons I am looking to buy in the long term.
The 3 month and the monthly timeframe have broken above the previous notable high. This indicates that price is due to go upwards and that this massive retracement is so that price can go back and collect orders from a certain region.
The next monthly targets are at 2.0375
However, today I really cannot pin point any clear setup that can guide me into what to do next. My intuition is telling me that price will go lower, but I am currently sitting on my hands.
GBPAUD | Short D1 | Market Exec |Technical Confluences for Trade:
- Stochastics are close to Overbought Conditions on D1 and Overbought in both H1 and H4 time-frames
- Price action is close to a Supply Zone
- Price action is close to multiple Resistance Trendlines
Suggested Trade:
Entry @ Area of Interest 1.9270 - 1.9380
SL @ 1.9503
TP 1 @ 1.9017 (Close Half-Position & move SL to Entry level once TP1 is achieved)
TP 2 @ 1.8745
Risk-to-Reward @ Approx. 2.87 (Depending on Entry Level)
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Bullish reversal off 61.8% Fibonacci support?GBP/AUD is falling towards the pivot which acts as a pullback support and could bounce to the 1st resistance.
Pivot: 1.93444
1st Support: 1.91604
1st Resistance: 1.95355
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GA Short - Temp buy pullback pending _ ABC correctionAfter analysing this pair thoroughly using top down analysis and Elliot wave, I am confident to the direction. My last two failed ideas were due to miscounting and reading the chart, which I had originally done correctly in my idea a week ago linked to this chart.
We are heading down to the trend, completely the C wave of the 3 WAVW correction.
GBPAUD to find buyers at market price?GBPAUD - 24h expiry
The primary trend remains bullish.
A lower correction is expected.
Price action has formed an expanding wedge formation.
Preferred trade is to buy on dips.
Bespoke support is located at 1.9475.
We look to Buy at 1.9475 (stop at 1.9395)
Our profit targets will be 1.9675 and 1.9715
Resistance: 1.9625 / 1.9690 / 1.9760
Support: 1.9475 / 1.9400 / 1.9335
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The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
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GBPAUDGBP Weak at the moment has broken Support and heading towards Sentiment of Traders Target
After Mondays ridiculous Algo driven panic Sell off across the board Instruments are returning to the Norm.
Aprox 180 pips potential.
Other reason in my humble opinion.
The Australian dollar (AUD) is currently stronger than the British pound (GBP) due to the following key reasons:
Commodity Exports: Australia's economy benefits significantly from high demand and prices for key commodity exports like iron ore and coal, boosting the AUD.
Interest Rate Policies: The Reserve Bank of Australia (RBA) has maintained a more stable interest rate policy, attracting investors seeking better returns compared to the Bank of England's recent rate cuts.
Economic Performance: Australia's economic recovery has been more robust, with stronger GDP growth and lower unemployment rates compared to the UK, enhancing the AUD's strength relative to the GBP.
GBPAUD (BUY) Very bullish on the (all timeframe). 4hr is still making higher highs and lows. Fib retracement still respecting a low. Entry was 1.95305, stop loss is 1.94910, and take profit is 2.03681. Risk Reward Ratio is 22.6! Amazing chance to take! Let’s see what happens.
GBPAUD BUY OPPORTUNITY 4HR TIMEFRAMEOverall trend break of structure to upside. Expecting price to reach demand zone (1.95516) for liquidity grab. Targeting price to reach order block (1.97368) where there is imbalance.
GBPAUD Massive Long! BUY
My dear friends,
GBPAUD looks like it will make a good move, and here are the details:
The market is trading on 1.9595 pivot level.
Bias - Bullish
Technical Indicators: Supper Trend generates a clear long signal while Pivot Point HL is currently determining the overall Bullish trend of the market.
Goal - 1.9694
About Used Indicators:
Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis
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WISH YOU ALL LUCK
sell opportunityThe GBPAUD pair presents an enticing sell opportunity at the current price of 1.96340, with favorable potential for profit.
Targets:
Primary Target: 1.93600
Secondary Target: 1.89688
Breakout Scenario: 1.92640
In the event of a breach above the resistance level of 1.98600, indicative of a bullish breakout, the target price is anticipated to ascend towards 1.9900.
Technical analysis indicates a notable selling sentiment prevailing in the market at the present price level.
Fundamental factors align with the proposed sell strategy, suggesting downward pressure on the GBPAUD pair.
Prudent risk management measures should be employed to mitigate exposure to potential adverse market movements.
Disclaimer: This analysis is provided based on current market conditions and historical price data. Traders are advised to conduct independent research and exercise caution, employing appropriate risk management techniques, before executing any trading decisions.
GBP/AUD BEARISH BIAS RIGHT NOW| SHORT
Hello, Friends!
The BB upper band is nearby so GBP-AUD is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 1.926.
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GBPAUD bullish con?we have a side ways market on the 4h while still maintaining an uptrend, price is currently at a support level while also being the low of this consolidation.if this support holds price will be going up which is a good level to get in a buy ....
GBPAUD shortsHere is why;
Monthly;
Price broke a major monthly region at 1.9970 and in the process has formed a higher high which shows that price is bullish.
The long term monthly targets, I believe are 2.0375
However, that is not important for intraday trades
Weekly;
Price broke a major region at 1.9500 and it is yet to retest that region.
I believe that price will retest that region before we see any upside movement
Daily;
Price formed a very long wick candlestick which shows me that price does not have enough orders to go to the upside.
For this reason, I believe that some sell orders are due and price will inevitably retest the weekly region at 1.9500.
However, if price does go lower, then the overall target is at 1.9435
GBPAUD Bearish Reversal OpportunityGBPAUD is near a key resistance zone. A potential Bearish reversal may occur if the price action breaks the previous Higher Low.
Bears may eventually face a strong support zone around 1.8625 till 1.8393. If this zone breaks, chances of TP2 will increase.
Trade Plan:
4Hr Time Frame
Entry @ 1.949
Stop Loss @ 2.0048
TP1 @ 1.8932
TP2 @ 1.8374
No. of Trades: 2
Move Stop Loss to Break even if TP1 hits.
GBPAUD - Expanding TriangleAUD news approaching with price consolidating in a Contracting Triangular pattern in the shorter time frame with an Expanding Triangle possibly developing in the larger timeframe.
There is a statistically high probability of price reversing to the upside after creating a lower outer pivot.
Possibility of fake breaks prior to news release so advisable to keep profit targets conservative in the short term, at the various support/resistance levels.
