GBPAUD: Curve Analysis (1W)
BIG PICTURE TREND IS NEUTRAL
(aggressive risk)
SLO2 @ 2.0233 ⏳
SLO1 @ 1.9850 📉
TP1 @ 1.9115
TP2 @ 1.8495
TP3 @ 1.8040
TP4 @ 1.7335
BLO1 @ 1.7165 ⏳
BLO2 @ 1.6755 ⏳
Based on the 1W chart for GBPAUD, the pair is currently trading in a symmetrical triangle pattern. This pattern is considered to be a neutral pattern, meaning that it could break out to the upside or downside. The price has been consolidating between the upper and lower trendlines of the triangle for the past few weeks, and it is now approaching the apex of the triangle.
The next few days will be critical for the GBPAUD pair. If the price breaks out of the triangle to the upside, it could target the 2.7000 resistance level. However, if the price breaks out of the triangle to the downside, it could target the 1.6755 support level.
The GBP is currently trading near its 200-week moving average, which is a bullish signal.
The AUD is currently trading near its 200-day moving average, which is a bearish signal.
The RSI indicator is neutral, suggesting that the market is neither overbought nor oversold.
The MACD indicator is in a bullish crossover, suggesting that the momentum is turning positive.
Overall, the technical analysis for GBPAUD is mixed. The symmetrical triangle pattern is a neutral pattern, and the other technical indicators are giving mixed signals.
However, the GBP is trading near its 200-week moving average, which is a bullish signal. Therefore, I would lean towards a bullish bias for the GBPAUD pair in the short term — particularly watching a buy signal around 1.9385
(aggressive risk)
SLO2 @ 2.0233 ⏳
SLO1 @ 1.9850 📉
TP1 @ 1.9115
TP2 @ 1.8495
TP3 @ 1.8040
TP4 @ 1.7335
BLO1 @ 1.7165 ⏳
BLO2 @ 1.6755 ⏳
Based on the 1W chart for GBPAUD, the pair is currently trading in a symmetrical triangle pattern. This pattern is considered to be a neutral pattern, meaning that it could break out to the upside or downside. The price has been consolidating between the upper and lower trendlines of the triangle for the past few weeks, and it is now approaching the apex of the triangle.
The next few days will be critical for the GBPAUD pair. If the price breaks out of the triangle to the upside, it could target the 2.7000 resistance level. However, if the price breaks out of the triangle to the downside, it could target the 1.6755 support level.
The GBP is currently trading near its 200-week moving average, which is a bullish signal.
The AUD is currently trading near its 200-day moving average, which is a bearish signal.
The RSI indicator is neutral, suggesting that the market is neither overbought nor oversold.
The MACD indicator is in a bullish crossover, suggesting that the momentum is turning positive.
Overall, the technical analysis for GBPAUD is mixed. The symmetrical triangle pattern is a neutral pattern, and the other technical indicators are giving mixed signals.
However, the GBP is trading near its 200-week moving average, which is a bullish signal. Therefore, I would lean towards a bullish bias for the GBPAUD pair in the short term — particularly watching a buy signal around 1.9385
Professor C. E. Ward
