Lovely retrace on the daily to the golden Fibonacci level of 618. Complete rejection, in addition to rejecting a key support/resistance line at the level of ~1.64.
1. Rejection of 0.618 Fib level on the daily retracement
2. Rejection of ~1.64 level
3. Massive RSI divergence across all time frames (4h and below)
4. 4H RSI is extremely high (~80). Only happens a few times/year. Typically leads to a massive drop.
No target set yet, but according to Fib extensions, 1.58 looks doable, especially with Brexit talks next week.
GBPAUD
GBPAUD
GBPAUD
1. Rejection of 0.618 Fib level on the daily retracement
2. Rejection of ~1.64 level
3. Massive RSI divergence across all time frames (4h and below)
4. 4H RSI is extremely high (~80). Only happens a few times/year. Typically leads to a massive drop.
No target set yet, but according to Fib extensions, 1.58 looks doable, especially with Brexit talks next week.
GBPAUD
GBPAUD
GBPAUD