GBPAUD Multi-TImeframe Analysis
- This is a Multi-Timeframe Analysis, for the other mentioned timeframes have a look at the screenshots below!
- GBPAUD is since 3 years in corrective sideways pattern
- Currently sitting at the 50% retracement of the last massive 5-wave move to the downside.
- the whole move to the upside is not impulsive and likely to break to the downside
- Today we had RSI divergence and 15min/1h Pinbar Sell signal
- afterwards an impulsive break of the rising 15min trendline occurred
- followed by an clear break of the 1H rising trendline
- if the market closes at this level we'll get a nice daily Pinbar Sell signal
- Double Top formation on 4H/daily, which do not happen to often at this timeframe, but if, it could lead to a major move
- Some kind of retest of the TL could occur, probably lining up with fibonacci retracement. After that a lower high will be formed and price is falling to finish the change of trend.
- Have a look at my AUDUSD analysis, the overall view for the AUD is very bullish, after ending a year long bearish cycle
- Also see my EURGBP Analysis with tells you that pound is going to weaken for the next weeks and maybe even longer
Related publications
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.