# GBPAUD Downtrend Pullback (Feb 19, 2016) Source: https://www.tradersway.com/resources/market-info/gbpaud-downtrend-pullback-feb-19-2016/ Language: en Updated: 2016-02-19 Description: Explore GBPAUD Downtrend Pullback (Feb 19, 2016). GBPAUD has been. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. GBPAUD has been trending lower, moving below a descending trend line connecting the latest highs of price action. The pair seems to be in the middle of a pullback and using the Fibonacci retracement tool on the latest swing high and low shows that the 61.8% level lines up with the trend line. In addition, the highest Fib also coincides with the 100 SMA, which is below the 200 SMA and indicating that the downtrend is set to carry on. The moving averages are edging farther apart, suggesting a pickup in bearish pressure. If any of the Fib levels hold as resistance, price could head back to the recent lows at the 1.9900 major psychological support. On the other hand, a break above the trend line and Fib resistance around the 2.0400 area could signal a potential reversal. Data from the UK has been mixed when it comes to jobs and inflation reports. The headline CPI came in line with expectations and rose from 0.2% to 0.3% while the core CPI fell from 1.4% to 1.2%. UK claimant count decreased more than expected but the jobless rate was unchanged at 5.1% and the average earnings index fell from 2.0% to 1.9%. UK retail sales data is due today and another weak reading could mean more pound losses. Analysts are expecting to see a 0.8% rebound from the previous 1.0% decline, although the weakness in wage growth could weigh on consumer spending. ![GBPAUD Downtrend Pullback (Feb 19, 2016)] As for the Australian dollar, commodity prices and overall risk sentiment appear to be the major drivers of price action. Dashed hopes of an oil production freeze agreement weighed on risk appetite recently, dragging the Aussie lower, but continued attempts to reach a deal could renew support for commodity currencies. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/gbpaud-downtrend-pullback-feb-19-2016/#primary", "url": "https://www.tradersway.com/resources/market-info/gbpaud-downtrend-pullback-feb-19-2016/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/gbpaud-downtrend-pullback-feb-19-2016/", "headline": "GBPAUD Downtrend Pullback (Feb 19, 2016)", "inLanguage": "en", "datePublished": "2016-02-19T06:54:07+00:00", "dateModified": "2016-02-19T06:54:07+00:00", "articleSection": "Market Info", "description": "Explore GBPAUD Downtrend Pullback (Feb 19, 2016). GBPAUD has been. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding.", "image": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/og-default.png" }, "author": { "@type": "Organization", "@id": "https://www.tradersway.com/#organization" }, "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": [ "Organization", "FinancialService" ], "@id": "https://www.tradersway.com/#organization", "name": "Trader's Way", "alternateName": "TradersWay", "legalName": "TW Corp LLC", "description": "Trader's Way is the trading brand of TW Corp LLC, a company registered in Anguilla under number A000001731. It provides online leveraged trading in forex, metals, energies, stock indices and cryptocurrencies through MetaTrader 4, MetaTrader 5 and cTrader, with Market execution, a 40% stop out level and a minimum initial deposit of 10 USD. The company holds no financial services licence and does not direct its services to residents of the United States or the United Kingdom.", "url": "https://www.tradersway.com", "foundingDate": "2011", "logo": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/logo-square-512.png" }, "address": { "@type": "PostalAddress", "streetAddress": "No. 9 Cassius Webster Building, Grace Complex", "postOfficeBoxNumber": "1330", "addressLocality": "The Valley", "postalCode": "AI-2640", "addressCountry": "AI" }, "contactPoint": { "@type": "ContactPoint", "contactType": "customer support", "email": "support@tradersway.com" }, "areaServed": "Worldwide, excluding the United States and the United Kingdom", "knowsAbout": [ "Foreign exchange trading", "Contracts for difference", "Leveraged trading", "Precious metals trading", "Energy commodities trading", "Stock index trading", "Cryptocurrency trading", "MetaTrader 4", "MetaTrader 5", "cTrader" ], "sameAs": [ "https://www.trustpilot.com/review/www.tradersway.com", "https://www.forexpeacearmy.com/forex-reviews/8129/tradersway-forex-brokers", "https://www.youtube.com/channel/UChRC072YJGlNNNYhg_0hZeA", "https://www.facebook.com/tradersway.forex.broker", "https://twitter.com/TradersWay", "https://www.instagram.com/traderswayforex/", "https://t.me/tw_eng" ], "identifier": { "@type": "PropertyValue", "propertyID": "Anguilla company registration number", "value": "A000001731" }, "location": { "@type": "Place", "address": { "@type": "PostalAddress", "streetAddress": "Radnicka 147", "addressLocality": "Valjevo", "postalCode": "14000", "addressCountry": "RS" } } }, { "@type": "WebSite", "@id": "https://www.tradersway.com/#website", "url": "https://www.tradersway.com", "name": "Trader's Way", "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": "BreadcrumbList", "@id": "https://www.tradersway.com/resources/market-info/gbpaud-downtrend-pullback-feb-19-2016/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://www.tradersway.com/" }, { "@type": "ListItem", "position": 2, "name": "Resources", "item": "https://www.tradersway.com/resources/" }, { "@type": "ListItem", "position": 3, "name": "Market Info", "item": "https://www.tradersway.com/resources/market-info/" }, { "@type": "ListItem", "position": 4, "name": "GBPAUD Downtrend Pullback (Feb 19, 2016)", "item": "https://www.tradersway.com/resources/market-info/gbpaud-downtrend-pullback-feb-19-2016/" } ] } ] } ``` ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Person", "@id": "https://www.tradersway.com/#wayne-mcdonell", "name": "Wayne McDonell", "jobTitle": "Chief FX Strategist", "description": "Chief FX Strategist at Trader's Way, trading forex publicly since 2004. His analysis has appeared in the Wall Street Journal, Bloomberg Television, Fox Business, Futures Magazine and FOREX Journal Magazine. Author of \"Strategic and Tactical Forex Trading\".", "worksFor": { "@id": "https://www.tradersway.com/#organization" }, "knowsAbout": [ "Foreign exchange market", "Technical analysis", "Fundamental analysis", "Forex trading strategy" ], "sameAs": [ "https://www.youtube.com/c/tradersway" ] }, { "@id": "https://www.tradersway.com/#organization", "employee": { "@id": "https://www.tradersway.com/#wayne-mcdonell" } } ] } ```