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GBPAUD testing major resistance, watch for a reversal

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 gbpaudtrade gbpaudpattern gbpaudsell forexsignals
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trendanalysis harmonicpatterns chartpattern gbpaud gbp aud gbpaudlong gbpaudshort gbpaudtrade gbpaudpattern gbpaudsell forexsignals

GBPAUD is testing major resistance at 1.7974 (Fibonacci extension, horizontal swing high resistance, bearish price action, bearish divergence) and a strong reaction could occur at this level to drive price down to 1.7439 support (Fibonacci retracement, horizontal swing low support).

Stochastic (34,5,3) is seeing major resistance at 96% and a corresponding reaction could occur at this level. We can only see bearish divergence vs price signaling that a potential reversal is impending.

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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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