GBPAUD TECHNICAL ANALYSIS

Here is an GBPAUD Technical Analysis on the H4 time frame. It is a major currency pair and one of the 21 currency pairs that we cover in our Forex Signals App that is available on both Android and iTunes. You can also view the Forex Signals App video demo.

GBPAUD on the H4 Time Frame

Price is currently trading below the 15 and 30 EMA. Price is at the bottom range of the channel and is most likely going to increase.

Additional points on GBPAUD

Price just hit the slaunted support level.

MACD is in green and below the zero line showing that price will be increasing soon.

Zero line is also yellow, thus strong momentum.

15 and 30 EMA may act as a potential dynamic resistance level in the future.

 

Conclusion

Price just came in contact with the slaunted support level. Hence if the support level manages to hold, a reversal may occur.

Thus, price is expected to increase up until the 15 and 30 EMA before coming back down.

 

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Have a great trading day ahead!

Ilyas Ismail

Currency Strategist

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