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GBPAUD approaching support, potential bounce!

Long
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
Price is approaching our first support at 1.7724 (horizontal overlap support, 100% Fibonacci extension, 38.2% Fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 1.7965 (horizontal swing high resistance, 61.8%, 100% Fibonacci extension, 50% Fibonacci retracement).
RSI (55) is approaching support and we might see a potential rise in price should it bounce off this level.
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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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