Commentary on the GBP/AUD

Forexmentor.com Forex Trading Price Action

GBP/AUD: Weekly Chart (Courtesy Richard and Patricia Gaulli, long-standing members of www.forexmentor.com) – “The EMAs are now stacked for short, after experiencing a Death Cross of the 50 and 100. Both BBs are now headed south, and price has been contained inside of the lower band. This past week’s candle closed as a classic bullish spinning top. MACD is very o/s and flat, with the Histogram losing strength. STO is on its way up, from being very o/s, having crossed its trigger. %R is going extremely o/s once again.”

Price action on the daily chart for this pair is clearly trending down, as evidenced by the 30 EMA. The 200 EMA is also trending down on the hourly, 15 and five minute charts. There is no doubt where this pair is headed.

Members of Forexmentor.com are fortunate to have Richard and Patricia submit their weekly analysis of the forex pairs, so that members can pick and choose which pair(s) they wish to trade. The analysis is impeccable, and leaves no doubt as to where price action is headed in each case.

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