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:
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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...
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,...
Hello 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 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...
