{"id":63023,"date":"2014-11-03T11:03:29","date_gmt":"2014-11-03T16:03:29","guid":{"rendered":"http:\/\/countingpips.com\/?p=63023"},"modified":"2014-11-03T11:05:25","modified_gmt":"2014-11-03T16:05:25","slug":"gbpaud-recovery-faces-strong-hurdle-at-1-84","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/11\/gbpaud-recovery-faces-strong-hurdle-at-1-84\/","title":{"rendered":"GBP\/AUD Recovery Faces Strong Hurdle At 1.84"},"content":{"rendered":"<div id=\"inves-3412463204\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">November 3, 2014<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Technical Sentiment: <strong>Bearish<\/strong><\/p>\n<p><strong>Key Takeaways<\/strong><\/p>\n<ul>\n<li>GBP\/AUD opened the trading week with a large bullish gap;<\/li>\n<li>Australian Dollar is suffering as traders are selling the pair across the board following worse-than-expected fall in Building Approvals for the month of September, coupled with a ballooning drop of -16.9% in Commodity Prices;<\/li>\n<li>Australian Retail Sales, Trade Balance, RBA Cash Rate and Rate Statement all due Monday night, with an overall bearish bias for the domestic currency;<\/li>\n<li>Sterling Pound saw sustained buying momentum triggered by an unexpected recovery in Manufacturing PMI;<\/li>\n<\/ul>\n<p><em>GBP\/AUD is trading 170 pips higher than its Friday Close, putting a 5-week bearish channel at risk, with no immediate signs that buyers will step down from this rally.<\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><strong>Technical Analysis<\/strong><\/p>\n<p><img decoding=\"async\" src=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/11\/GBPAUD3rdNovember.jpg\" alt=\"GBPAUD3rdNovember\" \/><\/p>\n<p>In less than two days with above average bullish momentum, GBP\/AUD has successfully retraced nearly all losses sustained throughout the previous two weeks of trading. After trending lower for at a steady, albeit choppy pace, this pair went through a couple of bamboozling swings between 29<sup>th<\/sup> and 31<sup>st<\/sup> October. Plenty of offers located at 1.8100 lifted price higher on Wednesday, only to retrace lower immediately in order to fake a bearish breakout.<\/p>\n<p>Today\u2019s gap, followed by a sustained intraday rally, broke above an intermediary resistance trend and the most recent Lower High set at 1.8258, changing GBP\/AUD bias to bullish. Spot is currently trading around 1.8350 during 3th\/11 U.S. session, just above the 200 Simple Moving Average on 4H chart. A successful break above 1.8400 will lead to an invalidation of a 5-week bearish channel, which should pave the way for more gains towards 1.8525, possibly as high as 1.8682 (1<sup>st<\/sup> October top).<\/p><div id=\"inves-3546662088\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p>On the other hand, if bears manage to assume control in this area, which could happen only if certain AUD fundamental triggers appear, price will re-test 1.8240\/50 within the next few trading sessions.<\/p>\n<p>*********<br \/>\nPrepared by Alex, Currency Strategist at <a href=\"http:\/\/www.capitaltrustmarkets.com\">Capital Trust Markets<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Technical Sentiment: Bearish Key Takeaways GBP\/AUD opened the trading week with a large bullish gap; Australian Dollar is suffering as traders are selling the pair across the board following worse-than-expected fall in Building Approvals for the month of September, coupled with a ballooning drop of -16.9% in Commodity Prices; Australian Retail Sales, Trade Balance, RBA [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-63023","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/63023","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=63023"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/63023\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=63023"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=63023"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=63023"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}