Missed the pound bloodbath earlier this week?

I see this as an opportunity to jump on the GBP/AUD bearish pullback!

Before moving on, ICYMI, went through yesterday’s watch list GBP/NZD correction levels after pound’s sharp collapse. Be sure to check if the game is real!

Now for the headlines that have rocked the markets recently trading sessions:

Latest market news and economic data:

The BOE says they are closely monitoring developments in the financial markets

Fed official Bostick: Market reaction to UK fiscal plan linked to growing uncertainty

Fed official: More rate hikes needed, policy remains accommodative

Fed’s Collins: Some problems in global supply chain starting to disappear, inflation likely to have peaked or nearly peaked

ECB chief Lagarde: Quantitative tightening will be considered after normalization of rates

Lagarde: The ECB will take additional measures if inflation does not hold

RBNZ chief Orr: Tightening cycle almost complete, but more work to be done

The World Bank lowered its forecasts for China’s economic growth

Japan’s FinMin Suzuki: Will continue to monitor the foreign exchange market

The Bank of Japan makes another unscheduled operation to buy JGBs

Federal Reserve Chairman Powell’s speech at 11:30 GMT
US headlines and core durable goods orders at 12:30 GMT
Speech by FOMC member Bullard at 1:55 PM GMT
US Central Bank Consumer Confidence Index at 14:00 GMT
US New Home Sales at 2pm GMT
US Richmond Manufacturing Index at 14:00 GMT
Minutes of the Bank of Japan monetary policy meeting at 23:50 GMT
New Zealand ANZ Business Confidence Index at 00:00 GMT (28 September)
Australian retail sales at 1:30am GMT (September 28)

Use our new Currency heat map to quickly see a visual overview of price action in the currency market! 🔥 🗺️

What to see: GBP/AUD

GBP/AUD 1 Hour Forex Chart

I’m still looking at a couple of pounds for today because I’m looking for an opportunity to catch another wave lower.

GBP/AUD is in correction mode and looks poised to resume falling as 61.8% Fib level keeps profits under control. If the sellers come back here, the pair could drop to swing lows below the key psychological mark of 1.6000.

Stochastic has a little more room to rise before reaching the overbought zone, so the pullback can reach higher levels.

The next potential resistance is located in the 1.6900 area, which is in line with the former support area covered dynamic inflection points by moving averages.

100 SMA is below 200 SMA suggest that the path of least resistance is to the downside or that there is a fairly good chance that the pound bears will return to action soon.

There are no major reports in the UK London sessionand it appears that the Bank of England’s efforts to calm the markets have not yielded much.

Meanwhile, the Australian retail sales report is due in the next Asian trading session, so we may see more volatility then for this couple.

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