Tickmill
Short

GBPAUD approaching major resistance, prepare for a strong reacti

FX:GBPAUD   British Pound / Australian Dollar
GBPAUD             is approaching major resistance at 1.7974 ( ABC Fibonacci extension , 61.8% Fibonacci extension , horizontal swing high resistance) and a strong reaction could occur at this level to push price down towards 1.7439 ( Fibonacci retracement , Fibonacci extension , horizontal swing low support).

Stochastic (34,5,3) is seeing major resistance below 96% where a corresponding reaction could occur.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.


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This analysis is provided as general market commentary and does not constitute investment advice.
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