Wed 23rd November 2022

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

  • GBPAUD

Charts Provided by Charles Clifton

Daily Analysis By Jon Kibbler

GBPAUD Long Trading Idea

In today’s currency strength video we identified that GBP is S3 on the trend trader tables and the AUD is W3 on the trend traders table.

The last time GBPAUD featured on the tables was back on 24th October where price rallied 400 pips into a key resistance point.

Taking a look at the monthly time frame we can see see that the price has been in a long term range since April 2015 with the price trading between the 1.6000 lows and 2.0375 highs. 

However, within this range we can also see a bearish channel forming which the price seems to be respecting so far. If the tables are suggesting we look for long trading ideas then we could look for the price to retest the bearish channel resistance. 

When we last featured GBPAUD in our updates,  the price has moved lower back to the support of 1.7500 and the Daily 200 Moving Average. 

Most recently the price has traded higher trading through the 1.7800 minor highs.

This could offer long opportunities as the price is finding support around this area and a bullish trendline. If it holds it could offer a move to the upside resistance of 1.8125.

Technical Observations

  • The GBP is S3 on the trend tables and the AUD is W3 on the trend traders tables.
  • The monthly time frame shows price in a range but within a bearish channel. 
  • If the price is to follow the tables we could see a move to the bearish channel resistance. 
  • Alternatively, the price is close to previous highs at 1.8125. This could be targets for traders long.
  • The H4 chart (pictured) shows the price finding support at the 1.7500 handle and Daily 200 Moving Average.
  • Price has since traded through the 1.78000 highs and is currently testing a trendline support.
  • If this holds we could see a long opportunity form.

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