GBPAUD facing resistance, expect downside moveIdea No : 06
GBPAUD is facing 2 trendline resistance and is locked in between
as we are moving into overbought conditions, i expect it to move lower and follow our given red arrow in a few days
GBPAUD trade ideas
GBP/AUD has a strong bearish momentum, could it fall further?Price is currently reacting off a resistance level which is a pullback resistance that aligns with the 23.6% Fibonacci retracement and could fall to our take profit.
Entry: 1.90535
Why we like it:
There is a pullback resistance level which lines up with the 23.6% Fibonacci retracement.
Stop loss: 1.91057
Why we like it:
There is a pullback resistance level which lines up with the 38.2% Fibonacci retracement.
Take profit: 1.89455
Why we like it:
There is a pullback support level.
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GBPAUD ShortTrading Idea: Short GBP/AUD
Reason : Bearish short-term trend; broken current support; approaching strong support. Setup valid if it doesn't trade below the last weekly low.
RR -> 1:1.7, SL -> above 0.78 Fib, TP -> current support
Expecting a sharp retracement. Will update as the trade develops.
GBPAUDLooking for big sell set ups with RBA holding rates for longer. Can see the higher time frame distributing.
GBPAUD I Potential return to previous structure broken Welcome back! Let me know your thoughts in the comments!
** GBPAUD Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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Thanks for your continued support!Welcome back! Let me know your thoughts in the comments!
GBPAUD Buy IdeaOANDA:GBPAUD has broken a strong descending trendline indicating a potential bullish momentum ahead. As it has made a new high and currently retracing towards fib premium levels of 38-50%. We can look for buying opportunities at the confluence of fib and trendline retest.
GBPAUD SHORTSGA is bearish. I’m anticipating a retest of broken support to continue bearish towards daily lows around (1.89000).
GBPAUD in daily frame for the next step am looking for shot position because we are now in wave 3 and predicting to touch our fib levels in 0.3 and 0.5 ,,, but be for going short i will wait for the price to give me a nice pull up to take more pips to take that advantage
gbpaud looking for higher pricesdaily time frame has taken previous days low and closed back within
4hr has come into a 4h poi
15m has push up breaking structures
monday will be looking for longs depending how we open and what asia session does taking price back up to arond 1.90741 which is a daily high
GBPAUD: Great Trading Opportunity
GBPAUD
- Classic bullish formation
- Our team expects pullback
SUGGESTED TRADE:
Swing Trade
Long GBPAUD
Entry - 1.9030
Sl - 1.8960
Tp - 1.9149
Our Risk - 1%
Start protection of your profits from lower levels
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#GBPAUD A long position would be initiated if the price could break the falling wedge pattern to the upside.
A short position would be considered if the price fails to break above the bearish channel's lower boundary and creates a lower low.
The trading scenario with the line arrow has a higher possibility of occurring.
Confirmations for the buying scenario:
Bullish divergence in the 1H time frame. 4H RSX at the oversold (OS) area.
Price testing an important daily support.
This bearish breakout of the channel could be considered an overexertion with respect to the price level.
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GBPAUD long moveprice at a resistance level. There cloud be a little pullback and then i expect a break and if this happens , we cloud see upside move.
short ideaThe market appears to be taking asian high liquidity, it is stop hunting before it makes the move downside.
GBP_AUD SUPPORT AHEAD|LONG|
✅GBP_AUD is set to retest a
Strong support level below at 1.8930
After trading in a local downtrend from some time
Which makes a bullish rebound a likely scenario
With the target being a local resistance above at 1.9063
LONG🚀
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ShortMarket has a lot of liquidity to take out on the downside, and based on where the market is, there are more areas for market to touch before it changes direction.
However, I think once it gets to my purple line which represents the four hour TF market will decide whether it wants to takeout the Daily low or create a new wave up, but we shall see
Bullish WeekWed low has already formed. Wait for the false move to trace your bullish entries. Note the 78% of the fib level don't ignore it even if you can't trace the exact entry point. The forecast for the to GBP news is negative so you better put your pending orders at the 78% level as it may cut accross both side. On the lower side expect the 78% level. Put your stop loss at the centre of the consodilation level just below the 78% level. Please don't get into trade before the false move between midnight and 0130hrs Newyork time. I'm a risk averse, I won't enter the trade if the wrong move doesn't trigger the 78% level so I will wait for the news to activate my trade. Please also note that there are news tomorrow as well on GBP and mostly likely it will favour GBP and therefore helping fuel the price up.
