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FX.co ★ GBP/AUD Approaching Resistance, Prepare For Reversal!

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Forex Analysis:::2018-08-13T05:39:35

GBP/AUD Approaching Resistance, Prepare For Reversal!

GPD/AUD is approaching its resistance at 1.7666 (61.8% Fibonacci extension, 50% & 23.6% Fibonacci retracement, horizontal pullback resistance) where a reversal to its support at 1.7303 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support) is expected. Stochastic (89, 5, 3) is approaching its resistance at 94% where a corresponding drop is expected.

GBP/AUD is approaching its resistance where we expect to see a reversal.

Sell below 1.7666. Stop loss at 1.7810. Take profit at 1.7303.

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Analyst InstaForex
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