In my last analysis on GBPAUD, I said we may have potential IHNS will be formed on the daily timeframe, but the price continues to make a higher high, there is no chance to see this pattern arise at the moment.
From the Technical Views:
1. From the weekly point of view, price moving to the downside aggressively without any proper retracement, we can expect a deeper retracement soon; at least to the 32.8 FIB level, as shown on the chart.
2. Also, from the daily point of view, GBPAUD has created a new higher high, we can expect a continuation to the upside after the short retracement as shown on the chart and complete the ECW pattern a.k.a ABC pattern.
From the Fundamental Views:
1. Institutional is bearish bias on both GBP and AUD in the longer term of view, but in the short term, they are bullish bias on both.
2. But in the new data, their interest was changed to bearish bias on both AUD and GBP. More long positions were closed and more short positions were added on both GBP and AUD. But compared with both, GBP still looks stronger than the AUD. We can expect a continuation to the upside on GBPAUD.
How to approach GBPAUD?
1. Waiting for the market complete the short retracement, after that switch to the lower timeframe looking for the short opportunity.
2. Long at the moment may not a good idea, if the market decides to go for the retracement, then you will be missing out on your area of the value.
The result might not follow my analysis, this analysis is based on the TA & FA perspectives.
Comment down below let me know your view on GBPAUD or which pairs you would like to me analyze in the future.
From the Technical Views:
1. From the weekly point of view, price moving to the downside aggressively without any proper retracement, we can expect a deeper retracement soon; at least to the 32.8 FIB level, as shown on the chart.
2. Also, from the daily point of view, GBPAUD has created a new higher high, we can expect a continuation to the upside after the short retracement as shown on the chart and complete the ECW pattern a.k.a ABC pattern.
From the Fundamental Views:
1. Institutional is bearish bias on both GBP and AUD in the longer term of view, but in the short term, they are bullish bias on both.
2. But in the new data, their interest was changed to bearish bias on both AUD and GBP. More long positions were closed and more short positions were added on both GBP and AUD. But compared with both, GBP still looks stronger than the AUD. We can expect a continuation to the upside on GBPAUD.
How to approach GBPAUD?
1. Waiting for the market complete the short retracement, after that switch to the lower timeframe looking for the short opportunity.
2. Long at the moment may not a good idea, if the market decides to go for the retracement, then you will be missing out on your area of the value.
The result might not follow my analysis, this analysis is based on the TA & FA perspectives.
Comment down below let me know your view on GBPAUD or which pairs you would like to me analyze in the future.