The GBPAUD is adding to yesterday’s massive 200 pip plus gains off just above the psychologically key 1.75 whole figure level. The GBPAUD is now nearing the 61.8% Fib Fib retrace of the February to September slide, with odds moderate for a test of the December high before month end. 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 weekly MACD which is trying to negatively cross, the weekly, daily and 4hr RSI, Stochastics and MACD are bottomish, rallying or consolidating recent gains. I am looking 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 GBPUSD, VIX
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