GBPAUD approaching support, potential bounce!
GBPAUD is approaching our first support at 1.7949 (horizontal pullback support, 61.8% Fibonacci extension, 23.6% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 1.8168 (horizontal pullback resistance, 61.8%, 100% Fibonacci extension, 76.4% Fibonacci retracement).
Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias. RSI (34) is also seeing a bullish exit and is approaching its support where a bounce off this level might see a corresponding rise in price.
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Losses can exceed the initial investment so please ensure you fully understand the risks.
Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias. RSI (34) is also seeing a bullish exit and is approaching its support where a bounce off this level might see a corresponding rise in price.
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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