GBPAUD Potential Long Play

14 may 2020

Dear traders,

I am currently looking for longs on GBPAUD, the reason for this is that this pair is in strong demand from the quarterly, monthly, weekly and daily time frame. Also, it is nearing .618 Fibonacci and has found support from the W50EMA. Price has been stalling in the demand zone and has formed bullish MACD divergence on both the 4-hour and 1-hour time frame.

Stacking confluences:
- Q, M, W, D demand zones stacked
- Nearing .618 Fibonacci
- W50EMA offering support
- Deceleration in the demand zone
- Bullish MACD divergence on the 4-hour and 1-hour chart
- Channel + wedge pattern on lower time frames

3M:


1M:


1W:


D:


4H:


1H:



Please share your thoughts on GA and or my analysis below.

Best,

Don Deesker