FxWirePro: EUR/ NZD steadies around 2.0150, retains bid tone 
FxWirePro: GBP/USD outlook weaker on renewed downside pressure 
FxWirePro: USD/CNY gains some ground but bearish outlook persists 
FxWirePro: AUD/USD downside pressure builds, key support level in focus 
FxWirePro- Major Pair levels and bias summary 
FxWirePro: EUR/AUD gaining momentum for a move towards 1.6800 level 
FxWirePro- Major European Indices 
FxWirePro: GBP/USD recovers but bears are not done yet again 
FxWirePro: USD/ZAR sustains gains as uptrend remains strong 
FxWirePro: USD/CAD runs out of steam but maintains bullish outlook 
EUR/JPY Bulls Charge: Eyeing 186.00 as Euro Strength Intensifies 
FxWirePro:NZD/USD drifts lower, could be on verge of bigger drop 
Euro Retreats as Geopolitical Tensions Surge: EURUSD Eyes 1.1400 Floor Amid Safe-Haven Demand 
FxWirePro: GBP/NZD remains buoyant, looks to extend gains 
FxWirePro: GBP/NZD range to extend until there is game changing news 
FxWirePro: EUR/AUD eases slightly but trend is still bullish 
Ascending channel patterns have shown their effects GBPAUD’s minor and major price uptrends as stated in our previous post (refer both daily and weekly charts).
In this upside travel, the pair has broken-out previous channel resistance which is observed as the key obstacles for more rallies.
But for now, bears, have resumed at the channel resistance upon the occurrence of gravestone doji at this juncture. The bearish pattern has occurred at 1.9364 levels followed by a bearish candle with large real body to nudge prices below 7 & 21-DMAs. Consequently, more slumps seem to be on cards as both leading and lagging oscillators turn towards bearish sentiments.
Both RSI and Stochastic curves show downward convergence to the prevailing dips to indicate the intensified selling momentum. While the current price sliding below coupled with bearish MACD crossover is indicating downtrend continuation.
On a broader perspective, the intermediate trend also spikes through the rising channel (refer monthly chart), bears resume at the channel resistance at 1.9523 level and plunged back the current 1.9070 levels (while writing).
The current price is attempting to slide below 7-EMAs as both leading oscillators signal overbought momentum on this timeframe as well.
Trade tips: One trading grounds, at spot reference: 1.9070 levels, we advocate executing one touch put option strategy with lower strikes at 1.8949 levels, the strategy is likely to fetch leveraged yields as long as the underlying price keeps dipping further towards lower strikes on the expiration.
Alternatively, on hedging grounds, contemplating above technical rationale, we advocated directional setup in our earlier post, we wish to roll over shorts in GBPAUD futures contracts of January’19 delivery and simultaneously, longs in futures of December’19 delivery. Thereby, the foreign traders, who are exposed GBPAUD receivables/payables, can arrest their FX exposures.
