Technical Analysis – GBPAUD consolidates, finds traction on lower band of cloud

Posted on August 13, 2020 at 3:24 pm GMT

GBPAUD adopted a sideways mode after a fresh high of 1.8404, creeping into the Ichimoku cloud where it found some positive footing on the floor of the cloud at 1.8174. The horizontal demeanour of the Ichimoku lines and the 50-period simple moving average (SMA) suggest a ranging market could hold for a while longer. Nevertheless, the short-term oscillators and the 50- and 100-period SMAs endorse an improving picture. The MACD and its red trigger line have merged marginally above the [..]


Technical Analysis – GBPAUD makes a U-turn after 1-year low

Posted on July 31, 2020 at 1:17 pm GMT

GBPAUD made U-turn after printing a bullish hammer candle near a one-year low of 1.7693 last week. Since then, the price managed to take the 20- and 50-day simple moving averages (SMAs) out of its way, switching the short-term bias to a positive one. The positive momentum in the RSI, which is accelerating above its 50 neutral mark, and the strengthening MACD are also reflecting a growing buying appetite. A close above 1.8377, which is the 23.6% Fibonacci of the [..]


Technical Analysis – GBPAUD stands near 9-month trough; remains in bearish mode

Posted on July 2, 2020 at 11:39 am GMT

GBPAUD has been heading considerably lower over the last four months, touching a new nine-month low of 1.7860. Currently, the price is edging slightly higher, approaching the 20-day simple moving average (SMA) and the MACD oscillator is moving above its trigger line. Also, the RSI is ticking up in the negative territory, suggesting a potential pullback. A rally above the 20-day SMA could challenge the 40-day SMA near 1.8363 and the 1.8430 resistance. Slightly higher, the 23.6% Fibonacci retracement level [..]


Technical Analysis – GBPAUD looks to end bearish cycle above channel

Posted on June 15, 2020 at 11:47 am GMT

GBPAUD is in fight again with the upper surface of the narrow descending channel that has been holding since the beginning of April with scope to end the bearish cycle after finding strong support near 1.8050. The persisting positive momentum in the RSI and the MACD, which is correcting towards the bullish area, is an encouraging signal that improvement may continue in the short-term. However, only a clear break above the channel could boost buying interest towards the nearby 1.8652 [..]


Technical Analysis – GBPAUD bears take a breather at the bottom of a tight channel

Posted on June 5, 2020 at 11:06 am GMT

GBPAUD strengthened its negative momentum within a narrow descending channel and touched a 1½-year low at 1.8053 this week after tumbling below the 1.8500 mark. With the price currently consolidating near the bottom of the channel, and the RSI and the stochastics fluctuating in oversold zone, an upturn is increasingly likely in the near term. Yet, that may depend on how strong the 1.8050 support is. If it fails to reject downside movements, the market could find new sellers to drove [..]


Technical Analysis – GBPAUD bulls retake control around the 200-day SMA

Posted on May 1, 2020 at 12:17 pm GMT

GBPAUD is currently pushing up against the 100-day simple moving average (SMA) at 1.9460 after a bounce near the 200-day SMA’s region, which ultimately kept intact the medium-term positive outlook. Looking at the short-term oscillators, they paint an optimistic picture. The MACD is in the negative region and below its red trigger line but looks to move back above it, while the RSI is rising towards its neutral threshold. Furthermore, the 50- and 100-day SMAs maintain a positive tone despite [..]


Technical Analysis – GBPAUD holds near-term negative mode despite bounce off previous trough

Posted on April 15, 2020 at 10:14 am GMT

GBPAUD’s newfound confidence has pushed the price above the 1.9725 resistance and to the flat blue Kijun-sen line. The latest upside price action is also reflected in the upwards turn in the Tenkan-sen line as well as the short-term momentum indicators. The MACD, in the negative area, continues to increase above its red trigger line, while the RSI has succeeded in overstepping its neutral mark. However, the Ichimoku lines maintain a bearish bearing, as do the downward sloping 50- and [..]


Technical Analysis – GBPAUD continues to consolidate after second pullback from 2.0845

Posted on March 24, 2020 at 4:47 pm GMT

GBPAUD in the near-term appears to lack direction as the price trades between the 200- and 50-period simple moving averages (SMAs). Confirming this picture are the unclear signals from the Ichimoku lines and the stalled directional momentum reflected in the short-term oscillators. The MACD, in the negative region, is rising towards its red trigger line, while the RSI also in bearish territory is ascending to its neutral mark. Despite all SMAs holding their bullish bearing, they display some weakness in [..]


Technical analysis – GBPAUD posts bullish spike at 4-year high

Posted on March 10, 2020 at 11:27 am GMT

GBPAUD after the aggressive bullish action towards a four-year high of 2.0763, returned near its opening level on yesterday’s session below 2.0000. However, chances for a downside reversal are minimal, as the 20-day simple moving average (SMA) remains above the 40-day SMA for more than a month now. Additonal evidence comes from the MACD as it continues to strengthen to the upside and above its trigger line, supporting this view, while the RSI is flattening slightly below the 70 level. Should the [..]


Technical Analysis – GBPAUD abandons 3-week top; bulls still in charge in long-term

Posted on February 24, 2020 at 1:39 pm GMT

GBPAUD is recording a negative day, recovering the gap up that created earlier today. The price completed a three-week peak of 1.9646. Chances for a downside reversal, however, are minimal as the 20-day simple moving average (SMA) remains above the 40-day SMA for more than a month now, while the red Tenkan-sen line has a steeper positive slope now, suggesting that the next move in the price is more likely to be up. In more evidence, the MACD continues to strengthen to [..]

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