Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil EL&P Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries GBP/AUD technical analysis: anticipating a short opportunity at 1.90582 resistance By: Invezz January 05, 2024 at 07:05 AM EST GBP/AUD trading opportunityBuy/sell asset: Sell GBP/AUDEntry price: 1.90582Stop loss: 1.92034Leverage: 1xTake profit 1: 1.89500Take profit 2: 1.87700Take profit 3: 1.85890Timeframe: 1-2 weeksMaximum profit: 2.46%Maximum loss: 0.7%GBP/AUD chart and technical analysisGBP/AUD has been in a bearish trend since last August and the price has made lower lows since then. Currently, the price is making a correction after dropping to the 1.85893 level. The price is likely to retest the 1.90582 resistance level before dropping further.The 1.90582 is a major resistance level that has also proved strong support in the past. I am expecting the price will continue its bearish momentum after retesting this level.I am considering the 1.90582 resistance level for short entry and my target for this trade is the 1.85890 support level. There is also a bearish order block and 0.38 Fibonacci level around the same level.GBP/AUD fundamental analysisThe Non-farming payroll (NFP) data will be published on the US dollar today, if the data turns out positive the price of GBP/AUD will go up and when the USD strengthens the Australian dollar gets weaker. Conversely, if the data turns out negative for the US dollar the price of GBP/AUD will drop.However, the price of GBP/AUD is likely to remain stable in the coming week as there are no major fundamental events that could impact the price of GBP/AUD substantially.Great Britain pound to Australian dollar trade idea takeawaysThe price of GBP/AUD is likely to drop further after retesting the 1.90528 resistance level. The price is likely to drop to the 1.85890 support level in the coming daysMultiple take-profit levels have been added to secure profit along the way.The risk-to-reward ratio on this trade is 1:3.2.The entry and stoploss prices have been placed at secure levels with the least probability of getting hit.Good luck!The post GBP/AUD technical analysis: anticipating a short opportunity at 1.90582 resistance appeared first on Invezz Related Stocks: Audacy Inc Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
GBP/AUD technical analysis: anticipating a short opportunity at 1.90582 resistance By: Invezz January 05, 2024 at 07:05 AM EST GBP/AUD trading opportunityBuy/sell asset: Sell GBP/AUDEntry price: 1.90582Stop loss: 1.92034Leverage: 1xTake profit 1: 1.89500Take profit 2: 1.87700Take profit 3: 1.85890Timeframe: 1-2 weeksMaximum profit: 2.46%Maximum loss: 0.7%GBP/AUD chart and technical analysisGBP/AUD has been in a bearish trend since last August and the price has made lower lows since then. Currently, the price is making a correction after dropping to the 1.85893 level. The price is likely to retest the 1.90582 resistance level before dropping further.The 1.90582 is a major resistance level that has also proved strong support in the past. I am expecting the price will continue its bearish momentum after retesting this level.I am considering the 1.90582 resistance level for short entry and my target for this trade is the 1.85890 support level. There is also a bearish order block and 0.38 Fibonacci level around the same level.GBP/AUD fundamental analysisThe Non-farming payroll (NFP) data will be published on the US dollar today, if the data turns out positive the price of GBP/AUD will go up and when the USD strengthens the Australian dollar gets weaker. Conversely, if the data turns out negative for the US dollar the price of GBP/AUD will drop.However, the price of GBP/AUD is likely to remain stable in the coming week as there are no major fundamental events that could impact the price of GBP/AUD substantially.Great Britain pound to Australian dollar trade idea takeawaysThe price of GBP/AUD is likely to drop further after retesting the 1.90528 resistance level. The price is likely to drop to the 1.85890 support level in the coming daysMultiple take-profit levels have been added to secure profit along the way.The risk-to-reward ratio on this trade is 1:3.2.The entry and stoploss prices have been placed at secure levels with the least probability of getting hit.Good luck!The post GBP/AUD technical analysis: anticipating a short opportunity at 1.90582 resistance appeared first on Invezz Related Stocks: Audacy Inc