GBPAUD approaching support, potential bounce!
GBPAUD is approaching our first support at 1.8451 (horizontal overlap support, 61.8% Fibonacci extension, 38.2%, 23.6% Fibonacci retracement) and a strong bounce might occur above this level pushing price down to our major resistance at 1.9026 (50% Fibonacci retracement). Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias.
RSI (89) is also approaching our first support and we might see a corresponding 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.
RSI (89) is also approaching our first support and we might see a corresponding 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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