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British Pound / Australian Dollar
Long

GBPAUD approaching support, potential bounce!

By Tickmill
Broker
GBPAUD is approaching our first support at 1.8052 (horizontal pullback support, 38.2%, 50% Fibonacci retracement, 100% Fibonacci extension) and a strong reaction might occur above this level pushing price up to our major resistance at 1.8250 (Horizontal overlap resistance, 61.8% Fibonacci retracement). Stochastic (55,5,3) is also approaching support where we might see a corresponding rise in price should it bounce off this level.
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Tickmill
Broker
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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