GBPAUD is approaching horizontal pullback resistance in line with 61.8% Fibonacci retracement and 61.8% Fibonacci extension . Prices might pullback towards horizontal swing low support in line with 61.8% Fibonacci extension and ascending trendline support. If prices continue to push up further, prices might face resistance from horizontal swing high resistance in line with 100% Fibonacci extension . MACD is also showing a crossover and a bearish signal.
Trading Recommendation
Entry: 1.69887
Reason for Entry:
61.8% Fibonacci retracement, 100%, 127.2% Fibonacci extension and horizontal pullback support
Take Profit: 1.70583
Reason for Take Profit:
61.8% Fibonacci extension and horizontal swing high resistance
Stop Loss: 1.69374
Reason for Stop Loss:
161.8% Fibonacci extension and horizontal swing low support
