Here is an awesome analysis for you.
As we can very clearly see that the pair is in a channel which is a buy trend.
Also the pair is making a new higher high while not breaking the previous
The pair might touch the trendling support area and then bounce back.
One can take a buy entry with a tp at 2.00000
while keeping SL...
. There is still a possibility of temporary retracement to suggested resistance line (1.9655). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. GBPAUD is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a...
All we need is a nice pullback into structure on the 15 mins chart preferably at the (2) point on the chart or a nice reversal pattern and we can take a sell on GBPAUD.
Do NOT get impulsive to sell GBPs right away! The majority of the time they ALWAYS give you a nice pullback so just be patient or enter a small position while waiting for an optimal entry.
The pair has been moving in a channel pattern from the past two months. It has recently tested the upper trendline and has reverted back with the aim of testing the lower trendline. The expected target for the trade is at 1.81645. The Range of 1.84053 – 1.85157 is a strong resistance area for the pair. The stop loss for the trade will be at 1.85157.
GBPAUD has formed a rising channel pattern on a daily basis with the current prices trading at the bottom of the channel, creating a buying opportunity. The expected target for the trade is at 1.8200 which is the mean of the channel and the SL for the trade is at 1.78232.
There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 1.7650 would begin in Midterm.
We will close our open trades, if the Midterm level 1.7650 is broken.
New trading suggestion:
Price may also reach 1.7650, if price reaches this level, there is a second chance to get more profit and...