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GBPAUD is approaching our first resistance at 1.8388 (horizontal pullback resistance, 23.6% Fibonacci retracement) and a strong drop might occur pushing price down to our major support at 1.8015 (horizontal swing low support, 50% Fibonacci retracement).
RSI (89) is also seeing a bearish exit and we might see a corresponding drop in price.
Trading CFDs on margin ...
GBPAUD goes down for next support zone.
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GBPAUD is approaching our first support at 1.8451 (horizontal overlap support, 23.6%, 38.2% fibonacci retracement, 61.8% fibonacci extension) and price might potentially bounce above this level to our resistance at 1.9026 (50% Fibonacci retracement).
RSI (89) is also approaching support and we might see a corresponding bounce in price.
Trading CFDs on margin ...
GBPAUD is approaching our first support at 1.8451 (horizontal overlap support, 61.8% Fibonacci extension, 38.2%, 23.6% Fibonacci retracement) and a strong bounce might occur above this level pushing price down to our major resistance at 1.9026 (50% Fibonacci retracement). Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias.
GBPAUD bounced nicely off its support at 1.8011 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 1.8099 (38.2% Fibonacci retracement, horizontal pullback resistance).
Stochastic (55, 5, 3) is bounced off its support at 4.9% where a corresponding rise could occur.
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GBP/AUD - BUY - Target 1.8600
Rejection from the support with 1 hour bullish hammer, making the C leg. Target 1.27 FIB (1.8600).
GBP/AUD still has some upside.
Because without this up movement price cannot complete proper structure.
It also has excellent R/R.
GBPAUD is approaching our first support at 1.8389 (horizontal pullback support, 23.6%, 38.2% Fibonacci retracement, 61.8% Fibonacci extension) and a strong bounce might occur above this level pushing price up to our major resistance at 1.8733 (horizontal swing high resistance).
RSI (89) is also approaching support and we might see a corresponding bounce in price ...
Despite weaker than expected economic releases this morning with month over month manufacturing production dropping 0.2% and no month over month GDP growth, this pair is still rallying. Both last week and the beginning of this week, we tested the weekly level to determine if it would hold up. I have taken this trade last week actually on the retracement and it has ...
PS: PLEASE CONFIRM BY YOUR OWN ANALYSIS BEFORE TAKING ANY DECISION ON THIS TRADE
This is GBPAUD buying long on 1hr/15 min chart.
After correction price finds a strong support which the price can move up when the news comes out for AUD.
GBP/AUD breaks above 200W SMA, hits 7-month highs at 1..8485, bias higher.
GBP buoyed as Brexit negotiations appear to be back on track after May's successful speech at the Conservative Party conference.
Reports suggest Theresa May is inching towards a compromise on the Irish border issue and bulls are looking for this to finally break the deadlock.
The pound ...
GBPAUD is approaching our first support at 1.7934 (horizontal swing low support, 61.8%, 100% Fibonacci extension, 76.4% Fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 1.1811 (horizontal overlap resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension).
Stochastic (55,5,3) is also ...
Wait to trigged .. Ready for both outcomes . lets ride the trend
We have entered this beautiful intra-day 50/50 bounce (first pullback to the 50 EMA after 13/50 cross)
Let's see how this plays out!