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GBPAUD approaching support, potential bounce!

Long
British Pound / Australian Dollar (FX:GBPAUD)  
easyMarkets Broker  
FX:GBPAUD   British Pound / Australian Dollar
Trend Analysis Harmonic Patterns Chart Patterns GBPAUD GBP aud gbpaudlong gbpaudshort Forex forextrading forexsignals
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trendanalysis harmonicpatterns chartpattern gbpaud gbp aud gbpaudlong gbpaudshort forex forextrading forexsignals
GBPAUD is approaching our first support at 1.7906 (horizontal overlap support, 23.6%, 61.8% Fibonacci retracement). A strong bounce might occur above this level, pushing price up to our major resistance at 1.8189 (horizontal swing high resistance, 50% Fibonacci retracement, 100% Fibonacci extension).
Stochastic (89,3,5) is also seeing a bullish divergence and is approaching our support where a bounce off this level might be a good precursor for a potential rise in price.
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