GBPAUD Forecast And Technical Analysis

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GBPAUD Forecast Update And Follow Up

Hi Traders! Today’s post is about GBPAUD forecast based on technical analysis. As I do with every technical analysis post, multi-time frame analysis method will be applied in order to look for all the possible evidences that supports my view on the current trading timeframe and the higher timeframes. We will start our analysis from the highest timeframe now which will be the weekly chart here.

GBPAUD W1(Weekly) Chart Analysis – Bullish Channel, Bearish Divergence, Stochastic Oscillator

On the weekly chart the price is moving inside a bullish channel, this channel is formed by the highs and lows reaching similar resistance and support zones. The price which is respecting these two zones so far has currently reached the top of this channel. In addition to this we have a bearish divergence between the first high that has formed on 8th December 2019 and the second high that has formed on 23rd February 2020 which we may consider as an evidence of bearish pressure. Also the Stochastic Oscillator has reached its extreme.

GBPAUD Forecast And Technical Analysis

 

 

GBPAUD D1(Daily) Chart Analysis – Important Resistance Zone, Bearish Divergence

On the daily chart the price has reached a strong resistance zone formed by the top of the weekly channel, the 161.8% fibonacci extension level and the 61.8% fibonacci extension level of the two waves we have. Also in addition to this we also have a bearish divergence that has formed between the first high that has formed on 31st January 2020 and the second high that has formed on 26th February 2020 which we may consider as an evidence of bearish pressure. So everything looks good here for the bears, we may now move to lower timeframes and see if we have evidences supporting this bearish view.

GBPAUD Forecast And Technical Analysis

 

 

GBPAUD H4(4 Hours) Chart Analysis – Bearish Divergence, Parabolic Sar

The H4 chart too is in perfect synchronization with the higher timeframes and has evidences supporting this bearish view. We have a bearish divergence here as well which has formed between the first high at 13th February 2020 and the second high that has formed on 26th February 2020 which we may consider as an evidence of bearish pressure. Also based on the Parabolic Sar the dots are above the price.

GBPAUD Forecast And Technical Analysis

 

 

GBPAUD H1(1 Hour) Chart Analysis – Bearish Divergence, Lower Lows, Uptrend Line Breakout

Looking at the H1 chart we have a bearish divergence that has formed between the first high that has formed on 25th February 2020 and the second high that has formed on 26th February 2020. In addition to this the price has created lower lows and also we have an up trendline breakout we may consider these as evidences of bearish pressure. In addition to this based on the Parabolic Sar the dots are above the price. Until the downtrend line (marked in red) shown in the chart holds my view remains bearish here.

GBPAUD Forecast And Technical Analysis

 

Technical Analysis & Forecast Summary

GBPAUD W1(Weekly) Chart Analysis 

  • Bullish Channel, Bearish Divergence, Stochastic Oscillator

GBPAUD D1(Daily) Chart Analysis 

  • Important Resistance Zone, Bearish Divergence

GBPAUD H4(4 Hours) Chart Analysis 

  • Bearish Divergence, Parabolic Sar

GBPAUD H1(1 Hour) Chart Analysis 

  • Bearish Divergence, Lower Lows, Uptrend Line Breakout

 

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GBPAUD Forecast And Technical Analysis

 

If you have any questions, don’t hesitate to drop a comment below!

 

Yours to your success

Vladimir Ribakov

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