This is an example of a strong sell signal on the GBP/AUD pair today. The indicators you see below is The Forex Heatmap® forex heatmap, which provides live trading signals for 8 currencies and 28 pairs total. As you can see from the signals, the British Pound (GBP) was consistently weak and the Australian Dollar (AUD) was also consistently strong.
This is the strongest possible trading signal using this indicator. We refer to this as a “slingshot”. The best indicator you can use to trade the forex market with is the market itself. These strong signals pushed the GBP/AUD down 175 pips in one trading session. The AUD strength pushed the AUD/NZD up around 100 pips, so multiple trades were possible due to the market volatility.
This GBP/AUD is now in a strong down trend and should continue much lower on the W1 time frame trend, we see no nearby support levels below the current pricing. We will continue to prepare more trading plans for additional sell entries moving forward, in the direction of the ongoing downtrend.
GBPAUD Sell Signal GBP Weakness
GBPAUD Sell Signal AUD Strength
GBPAUD Price Movement Chart
AUDNZD Price Movement Chart