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.
GBPAUD is in uptrend and playing with support. It can give good profit in long possition
GBPAUD- LONG- Any pull back upto 1.793 is a buying opportunity
Midterm forecast: 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...
Midterm forecast: While the price is below the resistance 1.8660, beginning of downtrend is expected. We make sure when the support at 1.7995 breaks. If the resistance at 1.8660 is broken, the short-term forecast -beginning of downtrend- will be invalid. Price may also reach 1.7995, if price reaches this level, we may enter by Daily-Trading-Opportunities,...
Watching for GBPUSD to settle above 1.2400. Next the pair will test 1.2688 level near term and then break above that toward 1.2900 - 1.3000 Sorry guys for being away for 4 months as I was working on my new book release "Trade Forex with Confidence". Thanks for your patience and support. amzn.to