GBPAUD Weekly/Daily/4hr

The GBPAUD (GBPAUD) is forming a 3rd straight weekly Doji just below the 50% Fib retrace of the February to September slide.  With volatility about to surge as hinted by the near complete triangle (on the 4hr and daily chart), the question is whether the triangle resolves lower, extending the pullback from the December high. With the GBPAUD having been rejected again today at the psychologically key 1.75 whole figure level, odds are moderate and rising for a retesting of the 2023 low before month end.  Volatility will surge Friday with comments from RBA Governor Lowe.  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.  Except for the downsloping weekly MACD, the weekly and daily RSI, Stochastics and MACD are bottomish or rallying.  I am long as of yesterday at 1.7505 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

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