GBPAUD is approaching our first support at 1.7706 (horizontal overlap support, 50% Fibonacci retracement, 100% Fibonacci extension) and a strong bounce might occur above this level pushing price up to our major resistance at 1.8242 (horizontal swing high resistance, 100% Fibonacci extension, 76.4% Fibonacci retracement). A breakout above our intermediate resistance at 1.7976 (horizontal swing high resistance, 50% Fibonacci retracement) might provide the bullish acceleration to our major resistance target. Stochastic (34,5,3) is also bouncing off support and we might see a corresponding rise in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.