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GBPAUD

XM Research

XM Research - 1 hour agoNeutral

GBPAUD edges lower as the UK general election is underway Downward trend from the March 5 high remains intact Stochastics close to sending a bullish signal GBPAUD is edging lower as the market is closely following the UK general election held today. Some GBP weakness is sensible considering the importance of today's risk event, but market participants could also be reconsidering the possibility of a rate hike by the RBA following the June meeting minutes and a plethora of posit
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XM Research - 6 days agoNeutral

GBPAUD edges higher after almost testing the early May low Downward trend from the March 5 peak remains intact Early signs of bullish momentum building up GBPAUD is edging higher after almost testing the early May low of 1.8900. It failed to make a lower low, but provided that the March 5, 2024 downward trendline remains intact, GBPAUD remains in a bearish trend.
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XM Research - 1 week ago

What could the UK general election mean for the pound?

UK citizens head to the ballots on July 4 Opinion polls point to a Labour Party victory Political stability could initially benefit the pound But BoE rate cut bets could prove negative in the longer run   How it works On July 4, Britons will head to the ballots to vote in a general election, with opinion polls suggesting that they will end 14 years of Conservative rule.
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XM Research - 1 month ago

Has the pound rally run its course?

Pound gains as BoE seen cutting rates late Economy improves but inflation may further slow A Labor victory could make the BoE’s job easier As rate cuts come forward, pound may weaken Sticky core inflation weighs on rate cut bets We are nearly halfway through 2024 and the pound is holding the first place among the major currencies in terms of year-to-date performance.
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XM Research - 2 months agoBearish

GBPAUD correction reaches 50% Fibonacci as bearish risks increase But some hope for a rebound as stochastics turn upwards   GBPAUD has been trending lower since early March when its three-month-old uptrend ran its course. But the consolidation may now be entering a new bearish phase as the price action is developing below the Ichimoku cloud as well as below all the simple moving averages (SMA).
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XM Research - 4 months agoNeutral

GBPAUD is stuck in a tight range, a tad below the upper end of the rectangle Momentum indicators are mostly in waiting mode SMAs’ convergence points to a sizeable move soon GBPAUD is edging lower today after recording three consecutive green candles. It remains a tad below the upper boundary of the rectangle that has been dictating price action since September 2023. Interestingly, the continued convergence of the 50-, 100- and 200-day simple moving averages (SMAs) and the relativ
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XM Research - 5 months agoNeutral

GBPAUD continues to range trade near the upper end of the rectangle Momentum indicators are mostly mixed; focus on stochastic oscillator SMAs’ convergence points to increased volatility GBPAUD is edging lower today after recording a new 5-month high of 1.9454 on February 1. It has returned inside the rectangle that has been dictating price action since September 2023 as the market is preparing for the next key events.
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XM Research - 6 months agoNeutral

GBPAUD has returned to the midpoint of its 2023 rectangle Momentum indicators remain mostly on the bulls’ side SMAs’ convergence creates expectations for increased volatility GBPAUD is edging lower today after recording nine consecutive green candles, one of the longest streaks of positive daily moves. The pair has returned inside the rectangle that defined trading in the latter part of 2023, quickly cancelling out the December downleg, and is now trading at a very busy area.
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XM Research - 7 months agoNeutral

GBPAUD in tight range, tests descending trendline SMAs appear to be converging towards the 1.9000 area Mixed momentum indicators increase uncertainty for the next leg GBPAUD is edging higher today, a tad above the support set by the August 17, 2023 descending trendline. This pair has been range-trading since mid-September as both sides have failed to make significant gains.
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XM Research - 8 months agoBearish

GBPAUD erases latest rebound ahead of BoE rate decision Bearish bias strengthens; focus turns on 200-day SMA   GBPAUD flipped all its October gains following the rejection near its 50-day simple moving average (SMA), currently flirting with September’s low of 1.8856. The 200-day simple moving average (SMA) is also in sight at 1.8795, as the downward trajectory in the RSI and the MACD points to more losses ahead.
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XM Research - 9 months agoNeutral

GBPAUD records another red candle, at lowest point since mid-July Aggressive bearish trend continues since August 17, 2023 peak Momentum indicators favour the current move but exhaustion signs could emerge soon GBPAUD is continuing its downward move with the bears appearing determined to recover a good part of the losses incurred during the September 2022-August 2023 uptrend.
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XM Research - 11 months agoBullish

GBPAUD has eased slightly from last Thursday’s 40-month high of 1.9968 as the positive momentum has started to lose steam somewhat. For the moment, the RSI and stochastic oscillator are holding in the overbought region. The former has flatlined just above 70, however, for the latter, the fast moving %K line has crossed below the slow moving %D line, signalling a possible pullback.
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XM Research - 1 year agoBearish

Technical Analysis – GBPAUD at 17-month high but bearish pressure intensifies

GBPAUD has almost completed a 17-month long round-trip as it is currently testing the January 28, 2022 high. It has been an impressive 20% rally since the September 2022 lows with the price action religiously obeying the September 26, 2022 upward sloping trendline. The recent pattern of higher highs remains in place, but the June 12 lower low is not a positive signal for the bulls.
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XM Research - 1 year agoNeutral

GBPAUD is hovering just above the 1.8517 level, testing the support set by the September 26, 2022 upward sloping trendline. This is a key moment for this pair as a break below this long-term trendline would open the door to a much stronger correction, cancelling the recent bullish pattern of higher highs. The anticipation is depicted in most momentum indicators.
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XM Research - 1 year agoBearish

GBPAUD is trading a tad below the busy 1.8701-1.8724 area, a sizeable correction following the April 28, 2023 high of 1.9034. This was the highest print for almost 15 months, with the pair also recording an impressive 18% increase since the September 26, 2022 low of 1.5937. The bears have a long way to go before declaring a short victory especially as the September 26, 2022 upward trendline awaits them a tad below the current levels.
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XM Research - 1 year ago

Will a slowdown in UK inflation change the BoE’s plans? – Forex News Preview

With the BoE leaving the door open to more rate hikes at its latest gathering, pound traders will probably be sitting on the edge of their seats in anticipation of next week’s inflation numbers, scheduled to be released on Wednesday at 06:00 GMT. However, they could somewhat readjust their positions the day before, as they will get an idea of how the UK economy has been performing this month through the preliminary PMIs.
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XM Research - 1 year ago

RBA hopes for stronger data to avoid “policy mistake” discussion – Forex News Preview

With the market still digesting the recent central banks’ announcements, the focus in Australia now shifts to incoming economic data. Next week will give us more information on the consumer sector, with the RBA hoping that these data releases justify its recent surprise rate hike. In the meantime, the aussie would clearly love another push, especially as most of the gains recorded after the May 2 move have evaporated.
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XM Research - 1 year agoBearish

GBPAUD is edging higher today but it remains a tad below the April 28, 2023 high of 1.9034. This is the highest print for almost 15 months, with the pair also recording an impressive 18% increase since the September 26, 2022 low of 1.5937. The recent upleg since mid-February has been very aggressive, which means that a correction could clearly be on the cards.
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XM Research - 2 years ago

Daily Market Comment – Dollar resumes slide, pound awaits CPI data and budget

Dollar under pressure after Brainard’s comments Pound traders turn gaze to inflation and fiscal agenda Wall Street closes in the red despite gains elsewhere Dollar comes back under pressure The US dollar traded higher against all but two of the other major currencies on Monday, helped by remarks from Fed Governor Christopher Waller, who warned that the Fed would not “soften” its fight against inflation, although they may consider slowing the pace of their future rate increases.
XM Research - 2 years agoBearish

GBPAUD plunged by 2.2% and straight towards the 200-day simple moving average (SMA) after a failed attempt to surpass the seven-month high of 1.8210. The 20- and 50-day simple moving averages (SMAs) seem to be acting as support levels once again at 1.7420 and 1.7185 respectively, though the price needs to break the 1.7705 region first. Also, the aforementioned lines are containing the 1.7315 support as well, so any declines below these levels may switch the outlook to bearish.

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