GBPAUD Weekly/Daily/4hr

The (GBPAUD) is consolidating just above what is arguably downchannel resistance (on the weekly chart), forming a 3rd straight daily Doji/Hammer near the psychologically key 1.80 whole figure level. Although the GBPAUD remains slightly above the 61.8% Fib retrace of the February to September slide, after the powerful bounce off the September low, a healthy pullback to the 50% Fib sometime in November is moderately likely.  Volatility will arrive today 8am EST with the BoE monetary policy report, MPC official bank rate votes, monetary policy statement, official bank rate, and again at 830am EST with BoE governor Bailey speaking.  Any retest of the 2022 high will likely have to defer until at least early next year.  The weekly, daily and 4hr RSI, Stochastics and MACD are rallying, bottomish or consolidating recent gains.  I am looking 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 GBPUSD, RAW SUGAR

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