theforexarmy

GBPAUD Bounced Off Support, Prepare For A Further Rise

Long
OANDA:GBPAUD   British Pound / Australian Dollar
GBPAUD bounced nicely off its support at 1.8011 (61.8% Fibonacci extension , 76.4% Fibonacci retracement , horizontal swing low support) where it could potentially bounce to its resistance at 1.8099 (38.2% Fibonacci retracement , horizontal pullback resistance).
Stochastic (55, 5, 3) is bounced off its support at 4.9% where a corresponding rise could occur.

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