# GBPAUD Trend Line Test (May 06, 2016) Source: https://www.tradersway.com/resources/market-info/gbpaud-trend-line-test-may-06-2016/ Language: en Updated: 2016-05-06 Description: Explore GBPAUD Trend Line Test (May 06, 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 on the 4-hour time frame, moving below a descending trend line connecting the latest highs of price action. Price looks ready for another test of this trend line soon and technical indicators are suggesting that the resistance could hold. The 100 SMA lines up with the trend line and might serve as a dynamic resistance level also. In addition, this moving average is below the longer-term 200 SMA so the path of least resistance is to the downside. In that case, GBPAUD could fall back to its previous lows at 1.8350. Stochastic is indicating overbought conditions so buying pressure might be exhausted soon. However, this oscillator hasn’t crossed down to indicate a return in selling pressure just yet. Similarly RSI is in the overbought area but hasn’t turned lower. The RBA recently cut interest rates by 0.25% in response to a weaker inflation outlook. Their recently released monetary policy statement showed a downgrade to inflation forecasts, which suggests that there’s scope for further easing. However, the reports released from the Australian economy yesterday showed stronger than expected results. Retail sales rose 0.4%, outpacing the forecast at 0.3%, while the trade deficit narrowed due to a pickup in exports. ![GBPAUD Trend Line Test (May 06, 2016)] Data from the UK has also been mostly weaker than expected. Manufacturing, construction, and services PMI all fell short of estimates and indicated a slowdown in activity. Still, the election in London has inspired anti-Brexit sentiments once more, keeping the currency afloat so far. *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-trend-line-test-may-06-2016/#primary", "url": "https://www.tradersway.com/resources/market-info/gbpaud-trend-line-test-may-06-2016/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/gbpaud-trend-line-test-may-06-2016/", "headline": "GBPAUD Trend Line Test (May 06, 2016)", "inLanguage": "en", "datePublished": "2016-05-06T06:33:08+00:00", "dateModified": "2016-05-06T06:33:08+00:00", "articleSection": "Market Info", "description": "Explore GBPAUD Trend Line Test (May 06, 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-trend-line-test-may-06-2016/#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 Trend Line Test (May 06, 2016)", "item": "https://www.tradersway.com/resources/market-info/gbpaud-trend-line-test-may-06-2016/" } ] } ] } ``` ```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" } } ] } ```