Gbpaudtrade
GbpAud- 500 pips upside potentialGbpAud found strong support around 1.8 with a spike down that drove the pair to 1.77.
The pair formed a rounded bottom and is now trading at the neckline resistance of the formation.
A clear break here would put the pair in a up trend and would have a target of at least 500 pips
GBPAUDAfter weeks and weeks of selling pressure, it looks like we are now beginning to see a market correction and new structure form. The previous monthly candle closure suggests the bulls may be ready to kick in and drive the price up. We are also seeing rejection on the daily time frame from the key level of 1.81500 marked indicating failure to close below, this may suggest that price is getting ready for its next bullish move. Looking into the lower time frames we are seeing a bullish flag form, if we manage to break out of this formation we may see a rather aggressive move up. Although my analysis is showing many confluences for a bullish move we cannot be set on one bias especially with the current market conditions, I have illustrated and noted the areas I am interested for either a sell or a buy depending on how the price develops.
My COT Data source is showing that 58.7% of commercial players are long on this pair
GBP/AUD will remain bullish💡Hello traders,
Hope you all have a fantastic day !
I would appreciate any likes and follows from this idea, that would encourage me to publish more ideas and analysis.
GBP/AUD has been rejected by monthly support line and now will go higher in long term.
Let us know what you think about this idea.
Trade safe !
Is your ship SINKING?1.77000 was a key monthly level, and also a lovely round number so i had an order set here and the bears pushed price down to this level perfectly before bulls took over pushing price up 700 pips! My target zone is 1.88000 as you can see on the chart, again this is just another key level at a lovely round number.
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If you would like any help trading then send me a message and i will be happy to help :)
Lots Of Love Laura x
GBP/AUD could go lower 💡Hello traders,
Hope you all have a fantastic day !
I would appreciate any likes and follows from this idea, that would encourage me to publish more ideas and analysis.
GBP/AUD has approached key resistance area in daily chart. We could see a small bearish price action but we have to remember there has been strong bullish trend recently
Let us know what you think about this idea.
Trade safe !