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GBPAUD Setting Up For A 350+ Pip Move

Wed 24th May 2023 : Daily Forex Price Action

Today we’re looking at Trading Setups in:

  • GBPAUD (Primary Focus Pair)
  • NZDJPY (Covered In Video)
  • USDJPY (Covered In Video)
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Primary Focus Pair: Overview

GBPAUD

GBP has found itself on our live forex strength vs weakness tables as a strong currency.

AUD remains on our tables as a weak currency, making GBPAUD one to watch for long ideas.

GBPAUD has recently traded outside of a minor trading range which formed on a lower time frame.

This range spanned between highs at 1.8775 and lows at 1.8650.

Live Forex Charts - GBPAUD - How to Find A Trending Forex Pair To Trade - Charles Clifton Forex Trader - 1-2-1 Forex Trader Training Courses - charlesclifton.co.uk- 24-05-23

Now price is trading above this range, we can begin to look for long opportunities to resistance levels.

On 28th April 2023, a high formed at 1.9000, this would be first targets for traders going long at the range highs of 1.8775.

A second target would be weekly resistance at 1.9175, which formed back in August 2021.

This means we could be looking to target over 350+ pips on this forex pair. 

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