OANDA

Dip buying on GBPAUD ahead of the RBA rate decision

Long
OANDA:GBPAUD   British Pound / Australian Dollar
GBPAUD - Intraday - We look to Buy at 1.7580 (stop at 1.7512)

Previous resistance at 1.7570 now becomes support. Support could prove difficult to breakdown. We expect a reversal in this move. Dip buying offers good risk/reward.

Our profit targets will be 1.7780 and 1.7800

Resistance: 1.7750 / 1.8120 / 1.9100
Support: 1.7570 / 1.7200 / 1.6200

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