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FX.co ★ GBPAUD is testing resistance, potential reversal!

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Forex Analysis:::2020-08-13T11:46:33

GBPAUD is testing resistance, potential reversal!

Description:

Price is testing our first resistance in line with the trend line, 50% fibonacci retracement and 61.8% fibonacci extension where we could see a reversal below this level.

Trading Recommendation

Entry: 1.82457

Reason for Entry:

trend line, 50% fibonacci retracement and 61.8% fibonacci extension

Take Profit: 1.80843

Reason for Take Profit:

Horizontal pullback support, 50% fibonacci retracement

Stop Loss: 1.83255

Reason for Stop Loss:

horizontal swing high resistance

Analyst InstaForex
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