GBP/AUD

Hi folks, I usually don't trade this pair, but the set up is getting interesting:
This is my view off the monthly and Daily TF:

Monthly, weekly and Daily TFs reached D extensions, the first graph is off the monthly TF and you can see a strong res area @ around 2.2118 that's been tested in 2008 and 2009, if resistance hold, I expect this pair to test support @ 2.14 and the ultimate support area is @ 2.02, this is about 1.700 pips away, do you think it's possible?
I do, but be careful, look for opportunities on the smaller TFs, this pair if overbought for a long time and needs a correction. I'd only buy on the dips or if resistance gets broken.

Happy pips everyone.

Fx 35

Looking at a zigzag wave (a) of the (v)th wave in an Ending Diagonal.
Wave b of zigzag tends to retrace no more than 61.82% of a. Therefore add position with sell limit 2.1826. Target c=a or more.

Hit the 120 ema on the daily chart now. Expecting a bounce soon.

Yeah, potential bounce coming soon.
Wave count update:

Long term view - developing a multi-months 3-3-5 correction [2]:

GBPAUD buy @ 2.1080 TP 2.1180
Trend is bullish

+100 pips TP is almost near to hit

Hi Everyone,
Anyone else looking for 2.11? Currently in a short. Planning on taking some profits at 2.11 then letting the rest ride down to 2.08 if all goes well.

Should the pair fails to close above 2.15000, which in my opinion is more likely, it can plunge to 2.11000

If price comes back to 2.1640, I will hit this pair with a long trade. I looks like it can possibly go a few hundred more pips before the real strong resistance comes into play.

Been quite here for some time. Seems no one is trading this pair.

this seems like a good pair to day trade, moves lots of pips in a day. that's if you can stomach the swings!

Hi guys, I got what I call Black Jack Set Up on this pair, it was an 86% retracement with a 40 pips stop loss to a gain of 290 pips, the AUD report helped catapult this position all way to my target, now I'm waiting for a pull back and look for another opportunity to re-enter shorting.

Happy pips everyone!!

Fx 35.

Forgive me for my bad english

I have been trading this pair for around 2 years, this pair is not for person who can't take the swing hehehe.
in recent 3 months i think my understanding for this pair getting better.


This pair usually trending after US open and don't stop until Asia Open, Im not good at technical analysis, so I rely on fundamental analysis.
I do averaging , spread to small lot.

Usually i don't trade on Friday and Monday , coz i want to have good weekend.

Smart man. I know what you mean. Many times I've had to leave trades open over the weekend and it gives me the shits thinking it might open at a gap up on Monday!

I love this pair though. The volatility makes it such an easy scalping pair to trade pullbacks.

Currently short on GBPAUD at the moment after the news. TP set just above the 23.6 fib retracement line.
Hope you guys caught this pullback as well.

As per last post, profit target hit and I'll sit out for now and wait for another pullback trade opportunity.

Good trade.

Hey, thanks Paul. Hope your trades are going well today mate

A great pair to trade if you can handle the swings in this way similar to GBPJPY. Not sure about trading today and tomorrow due to the US holiday period reducing liquidity, shall see...

Definitely trending up in the weekly and monthly but short term going through a retracement. watching the range forming on the 1 hrly chart, might give some pip making opportunities in the near future

Doing ok thanks,

I trade this pair quite often along with gbp/nzd and aud/usd but gbp/aud is my fav.