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GBPAUD testing resistance, potential drop!

Short
British Pound / Australian Dollar (FX:GBPAUD)  
Tickmill 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 testing our first resistance at 1.8208 (horizontal swing high resistance, 50%, 76.4% Fibonacci retracement). A strong reaction might occur below this level, pushing price down to our major support at 1.7933 (horizontal swing low support).
RSI is also approaching our major resistance where a reaction off that level might be a good precursor for a potential drop in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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