{"id":25934,"date":"2011-12-11T18:01:58","date_gmt":"2011-12-11T23:01:58","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=25934"},"modified":"2011-12-11T18:01:58","modified_gmt":"2011-12-11T23:01:58","slug":"gbpaud-daily-outlook-12-december","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/12\/11\/gbpaud-daily-outlook-12-december\/","title":{"rendered":"GBP\/AUD Daily outlook – 12 December"},"content":{"rendered":"

Last week in comparison to the previous was rather flat with the market not showing any clear direction. Friday did however produce a large bearish pin bar suggesting the bears seen from the last week of November could be making a return in the coming days\/week.<\/p>\n

Last weeks price showed a solid rejection of a strong support\/resistance area; which can be seen in the chart below.<\/p>\n

\"gbpauddailyoutlook12decsr\"<\/p>\n

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In early trading last Friday we saw the market once again pushing towards resistance at 1.5500; however as the session progressed we saw the market rejecting this area leading to the large bearish pin bar seen below:<\/p>\n

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\"gbpauddailyoutlook12decpin\"<\/p>\n

\u00a0It\u2019s wise to take into consideration the size of Fridays pin bar. A possible entry for shorting this market could be at a 50% retrace of the pin with a stop either at the high of Fridays price or just above our identified resistance area at 1.5500.<\/p>\n

The next most obvious level of support comes in at 1.5200 which can be used as an initial profit taking area.<\/p>\n

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\"gbpauddailyoutlook12dectargetentry\"<\/p>\n

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Article by vantage-fx.com<\/strong><\/span><\/a><\/p>\n

\n","protected":false},"excerpt":{"rendered":"

Last week in comparison to the previous was rather flat with the market not showing any clear direction. Friday did however produce a large bearish pin bar suggesting the bears seen from the last week of November could be making a return in the coming days\/week. Last weeks price showed a solid rejection of a … <\/p>\n

Continue reading “GBP\/AUD Daily outlook – 12 December”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-25934","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/25934","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=25934"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/25934\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=25934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=25934"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=25934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}