GBPAUD Approaching Resistance, Prepare For A Reversal
Sell below 1.8256.
Stop loss 1.8320.
Take profit at 1.8172.
Reason for the trading strategy (technically):
GBPAUD is approaching its resistance at 1.8256 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 1.8172 (61.8% Fibonacci retracement, horizontal pullback support).
Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal is expected.
Stop loss 1.8320.
Take profit at 1.8172.
Reason for the trading strategy (technically):
GBPAUD is approaching its resistance at 1.8256 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 1.8172 (61.8% Fibonacci retracement, horizontal pullback support).
Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal is expected.
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