Close Navigation
GBPAUD Near 2023 High Ahead of UK GDP

GBPAUD Near 2023 High Ahead of UK GDP

Posted March 9, 2023 at 12:06 am

Darren Chu
Tradable Patterns

GBPAUD Near 2023 High Ahead of UK GDP

The GBPAUD is hesitating within a key bull-bear battleground, testing the psychologically key 1.80 whole figure level, 2023 high and ascending triangle resistance (on the 4hr chart).  Odds appear elevated for a surge in March to the December high and major downchannel resistance since March 2020.  A bullish catalyst may arrive as early as Friday with the UK GDP.  The escalation in the Ukraine-Russia conflict deserves close monitoring.  Congratulations to paying subscribers who benefited from the Oct 4, 2022 analysis highlighting the high odds for a continued downtrend reversal going into year end.  The weekly and daily RSI, Stochastics and MACD are bottomish, rallying or consolidating recent gains.  I am long as of today at 1.7984 although if I were flat, I’d look to enter long in the green zone (of the daily chart), targeting the red zone for Wednesday.  The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I sometimes set my stops tighter).  Click here for analysis on USDCAD, NATURAL GAS

Source: Interactive Brokers TWS

Join The Conversation

For specific platform feedback and suggestions, please submit it directly to our team using these instructions.

If you have an account-specific question or concern, please reach out to Client Services.

We encourage you to look through our FAQs before posting. Your question may already be covered!

Disclosure: Interactive Brokers Third Party

Information posted on IBKR Campus that is provided by third-parties does NOT constitute a recommendation that you should contract for the services of that third party. Third-party participants who contribute to IBKR Campus are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.

This material is from Tradable Patterns and is being posted with its permission. The views expressed in this material are solely those of the author and/or Tradable Patterns and Interactive Brokers is not endorsing or recommending any investment or trading discussed in the material. This material is not and should not be construed as an offer to buy or sell any security. It should not be construed as research or investment advice or a recommendation to buy, sell or hold any security or commodity. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

IBKR Campus Newsletters

This website uses cookies to collect usage information in order to offer a better browsing experience. By browsing this site or by clicking on the "ACCEPT COOKIES" button you accept our Cookie Policy.