GBPAUD Forecast (Short):
Entry Price: 2.04900
Take Profit (TP): 2.02600 (2300 pips below the entry point)
Stop Loss (SL): 2.05600 (700 pips above the entry point)
Rationale for the Forecast:
Current Context:
GBPAUD is near a resistance level, indicating a potential downward reversal.
The Take Profit level (2.02600) is close to a key support level, which could be reached if the pound weakens or the Australian dollar strengthens.
The Stop Loss level (2.05600) is set above a key resistance level, minimizing risks in case of an upward breakout.
Fundamental Factors:
GBP: Weak GDP and industrial production data from the UK could put pressure on the pound.
AUD: Positive data from the construction sector and potential improvements in commodity prices could support the Australian dollar.
Technical Factors:
The level of 2.04900 is a resistance zone where a downward move is possible.
The level of 2.02600 is a support zone where profit-taking could occur.
The level of 2.05600 is a zone above key resistance where the Stop Loss would be triggered.
Recommendations:
Target (Take Profit): 2.02600 (2300 pips profit).
Risk (Stop Loss): 2.05600 (700 pips loss).
Risk-Reward Ratio: 1:3.3 (profit more than three times the risk).
Scenarios:
Optimistic Scenario:
GBPAUD reaches the 2.02600 level, and the position is closed with a profit.
This could happen if UK data weakens further or Australian data improves.
Pessimistic Scenario:
GBPAUD breaks above the 2.05600 level, and the position is closed with a loss.
This could occur if UK data improves or Australian data worsens.
Conclusion:
The current trade has a favorable risk-reward ratio (1:3.3).
It is recommended to monitor news from the UK and Australia, as they could impact the pair's movement.
Entry Price: 2.04900
Take Profit (TP): 2.02600 (2300 pips below the entry point)
Stop Loss (SL): 2.05600 (700 pips above the entry point)
Rationale for the Forecast:
Current Context:
GBPAUD is near a resistance level, indicating a potential downward reversal.
The Take Profit level (2.02600) is close to a key support level, which could be reached if the pound weakens or the Australian dollar strengthens.
The Stop Loss level (2.05600) is set above a key resistance level, minimizing risks in case of an upward breakout.
Fundamental Factors:
GBP: Weak GDP and industrial production data from the UK could put pressure on the pound.
AUD: Positive data from the construction sector and potential improvements in commodity prices could support the Australian dollar.
Technical Factors:
The level of 2.04900 is a resistance zone where a downward move is possible.
The level of 2.02600 is a support zone where profit-taking could occur.
The level of 2.05600 is a zone above key resistance where the Stop Loss would be triggered.
Recommendations:
Target (Take Profit): 2.02600 (2300 pips profit).
Risk (Stop Loss): 2.05600 (700 pips loss).
Risk-Reward Ratio: 1:3.3 (profit more than three times the risk).
Scenarios:
Optimistic Scenario:
GBPAUD reaches the 2.02600 level, and the position is closed with a profit.
This could happen if UK data weakens further or Australian data improves.
Pessimistic Scenario:
GBPAUD breaks above the 2.05600 level, and the position is closed with a loss.
This could occur if UK data improves or Australian data worsens.
Conclusion:
The current trade has a favorable risk-reward ratio (1:3.3).
It is recommended to monitor news from the UK and Australia, as they could impact the pair's movement.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.