Wed 7th December 2022

Today, Our Daily Currency Strength Weakness Video will focus on:

  • GBPAUD
  • NZDCAD

Charts Provided by Charles Clifton

Daily Analysis By Jon Kibbler

Will GBPAUD Reach The Monthly Resistance?

In today’s currency strength analysis video we identify a day trading opportunity on GBPAUD.

The GBP is S3 and AUD is W2 on the day traders tables offering short term opportunities for the pair to move higher. 

The lower time frame is showing price forming a consolidation pattern, if the price breaks and closes higher we could expect a higher time frame move .

The monthly chart shows the price is trading within a bearish channel but heading to the resistance highs of the pattern . 

Technical Observations

  • The AUD is W2 and GBP is S3 on the day traders table. 
  • The price is trading above the 200 Daily Moving Average.
  • The monthly chart shows the price heading towards a bearish channel resistance.
  • For day traders GBPAUD on the 15 minute time frame has formed a bullish break of a trendline. This could signal another move higher.

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