GBPAUD made a break lower on the back of US GDP giving AUD and NZD a boost, we expect some retrace back to previous support area into RBA early in the week. The next move will be decided on the next move by the RBA, a cut will likely to lead to upside break but with the BOE to follow we could see this whip back below 1.75000 again.
GBPAUD buy @ .236 retracement level up AB Swing StochRSI Over Sold
Like, Comment and support. GBPAUD broke the channel, give a pull back and possibility to move up till 1.8186, Go long after watching price action.
GBPAUD breaking out or tripple top???
Previous support at around 1.83000 formed in April is likely to be this pair's next resistance, but the LONG bias will only be valid if we break 1.78000 and maintain price above this level. Around the 1.783000 level, the ichimoku cloud will hopefully act act as some resistance together with the 50% and 61.8% Fibonacci retracement levels. What do YOU...
GBPAUD H4 Currently, its sitting at a S/R I want to break at 1.76432 , IF any chance the candle closes ABOVE this on the H4, the TP level will be at TP #1 which is at 1.77669 which is the next most touched S/R. Once it passes TP #1, our next target will be to the next S/R level which in this case is 1.78336 ( TP #2). SL will be 10-20 pips below the TL. If it...
PROS - Low test candle formation. - Rejection of both horizontal support and a downward sloping trendline. - Price sat between 0.5 & 0.618 Fib retracement. - Bullish MACD Divergence - Oversold on Stoch RSI CONS - Trading against the trend. - Trading towards key EMA's. Thoughts on this position?