GBPAUD approaching support, potential bounce!
GBPAUD is approaching our first support at 1.7769 (horizontal overlap support, 50%, 38.2% Fibonacci retracement, 100% Fibonacci extension, Elliot wave structure) where a strong bounce might occur above this level pushing price up to our major resistance at 1.8084 (horizontal swing high resistance, 38.2% Fibonacci retracement, 100% Fibonacci retracement). A breakout above our intermediate resistance at 1.7967 (horizontal swing high resistance) might provide the bullish acceleration to our major resistance target.
Stochastic (21,5,3) is also approaching support where we might see a potential bounce in price should it bounce off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (21,5,3) is also approaching support where we might see a potential bounce in price should it bounce off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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