GBPAUD Approaching Resistance, Prepare For A Reversal!
Sell below 1.7636.
Stop loss 1.7785.
Take profit at 1.7405.
Reason for the trading strategy (technically):
GBPAUD is approaching its resistance at 1.7636 (61.8% Fibonacci extension, 61.8% & 50% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 1.7405 (61.8% Fibonacci retracement).
Stochastic (55, 5, 3) is approaching its resistance at 95% where a corresponding reversal is expected.
Stop loss 1.7785.
Take profit at 1.7405.
Reason for the trading strategy (technically):
GBPAUD is approaching its resistance at 1.7636 (61.8% Fibonacci extension, 61.8% & 50% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 1.7405 (61.8% Fibonacci retracement).
Stochastic (55, 5, 3) is approaching its resistance at 95% where a corresponding reversal is expected.