GBPAUD is on a wide ascending wedge.
It just hit the pressure line again WITH a potential C for a new start of a swing.
This would make it possible to move down to the bottom line for 1000 pips.
Same that we have a signal on GBPAUD hit TP2 with 360 pips profit. It could drop more to make our tp3 and tp4 hit with 0 risk to us.
LESS IS MORE!
You would have to be a brave person to long the GBP In the coming week .
Or that you have a crystal ball under your pillow .
The biggest gains in shorting the GBP will be against Minor pairs
we are short on the GBP AUD and will be peeling TPS off in conjunction with the fib
GA POTENTIAL SHORT: (- ESPERAR A que rompa la trendline interior de 30' y entrar en el retest.)
Confluencias:
- Honda ABCDE alcista completa.
- Entrada en corto en el retroceso 61,80 diario
- Coincide retest trendline alcista con el 61,80
- MA se ha cruzado por encima del SMA hace dos dias
- Retesteando soporte 4h anterior para crearlo resistencia.
- PUNTO A...
Inspired by an indicator I found on stevehopwoodforex.com and the endless possibilities of tradingview.com I came up with this currency strength visualisation concept.
*Please hit the zoom-out button once*
(or more if you're feeling wild)
This may look like a mess, but the last few "bars" on the chart are holding some useful information!
I'm sure I'm not the...
1, Monthly Resistance
2, Double Top
3, Ascending Wedge
4, RSI Divergence
WAIT FOR DAILY CLOSURE BELOW THE LOWER BOUND OF THE WEDGE
TARGET BASED ON FIBONACCI RETRACEMENT ON HIGHER TIME FRAME + BASE OF PATTERN
GBP Fundamentals:
- "UK services industry gloomiest since 2009 crisis" - CBI
- GBP reaching a price at which has a high selling value
- Prime minister may under threat from new parties and conservative party leavers who are not confident in her leadership
- The Brexit vote delay shows uncertainty
- "Brexit: Labour will back amendment for second referendum, says...
I have clean sell setup on GBPAUD and this could easily bring the price down towards the identified target level. The oscillating indicator also showing some sign of overbought.
Kindly follow the suggested short zone on the chart and always remember to apply stop loss.
Level to watch for are:
POSSIBLE ENTRY ZONE
Possible Support LEVEL
SELL TARGETS
Do know that...
The British Pound vs. the Australian Dollar. Due to its relatively higher interest rates and its correlation to global equity markets, the Australian Dollar is often referred to as a risk currency. Mining, which is Australia’s largest economy sector, has been negatively affected by a slowdown in the global commodity super cycle and a decline in China’s growth.
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