GBP/AUD Long Setup – Final Retest of Daily Support with Bullish Confirmation
Looking to go long on GBP/AUD after multiple confluences across timeframes suggest a strong bounce from key support.
Daily Chart:
Price continues to respect the 2.07500 support zone, which has held since April 9th. Today, we saw a sharp move back into that level with a strong wick rejection, suggesting a possible final retest before continuation.
4H Chart:
We’re 12 minutes from closing a bullish hammer, printing just above the daily support zone — a textbook signal of bullish strength returning from structure.
1H Chart:
Clear false breakout + inside bar combo, followed by a bullish hammer close, all occurring within the support zone. These are strong reversal signals, especially when aligned with higher timeframe structure.
News Context:
While GBP flash PMI data came in weak, price action tells a different story. The bullish hammer forming during the news candle suggests liquidity absorption, not continuation selling.
Trade Plan:
Entry: Around current levels above 2.075
Stop: Just below the 1H hammer (tight structure-based risk)
Target: 2.10815 — aligning with recent swing highs and the top of the range
Solid structure + clear invalidation = high-quality setup. If momentum holds, we could see a swift rotation back toward the highs.
Looking to go long on GBP/AUD after multiple confluences across timeframes suggest a strong bounce from key support.
Daily Chart:
Price continues to respect the 2.07500 support zone, which has held since April 9th. Today, we saw a sharp move back into that level with a strong wick rejection, suggesting a possible final retest before continuation.
4H Chart:
We’re 12 minutes from closing a bullish hammer, printing just above the daily support zone — a textbook signal of bullish strength returning from structure.
1H Chart:
Clear false breakout + inside bar combo, followed by a bullish hammer close, all occurring within the support zone. These are strong reversal signals, especially when aligned with higher timeframe structure.
News Context:
While GBP flash PMI data came in weak, price action tells a different story. The bullish hammer forming during the news candle suggests liquidity absorption, not continuation selling.
Trade Plan:
Entry: Around current levels above 2.075
Stop: Just below the 1H hammer (tight structure-based risk)
Target: 2.10815 — aligning with recent swing highs and the top of the range
Solid structure + clear invalidation = high-quality setup. If momentum holds, we could see a swift rotation back toward the highs.
Trade closed: stop reached
Stopped out to the Pip. 
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.