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British Pound / Australian Dollar
Short

GBPAUD reversed nicely off its resistance, potential drop!

By ICmarkets
Broker
Updated
GBPAUD reversed nicely off its resistance at 1.8250 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it could potentially fall to its support at 1.8031 (61.8% Fibonacci extension, 76.4% Fibonacci retracement). We do have to be cautious of the intermediate support at 1.8102 (50% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) reversed off its resistance at 97% where it has a lot of downside potential.
Trade closed: target reached
profit target reached! yes!
audBitcoin (Cryptocurrency)bitcoinforecastChart PatternsForexforexsignalsGBPGBPAUDgbpaudshortHarmonic PatternsTrend Analysis
ICmarkets
Broker
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.
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