• GBPAUD approaching resistance, potential drop!

    GBPAUD is approaching our first resistance at 1.8508 (horizontal swing high resistance, 100% Fibonacci extension). A strong reaction might occur below this level, pushing price down to our major support at 1.8376 (horizontal pullback support, 38.2% Fibonacci retracement, 61.8% Fibonacci extension) which coincides with our long term ascending support line. Stochastic (55,5,3) is also approaching […]

  • GBPAUD testing strong resistance once again, potential for a drop!

    GBPAUD is testing major resistance at 1.7847 (Fibonacci extension, Fibonacci retracement, horizontal overlap resistance) and a strong reaction could occur at this level to push price down to 1.7439 support (Fibonacci retracement, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance at 96% where a corresponding reaction could occur. Trading CFDs on margin carries […]

  • GBPAUD testing major resistance, watch for a reversal

    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 […]

  • GBPAUD approaching major resistance, prepare for a strong reaction!

    GBPAUD is approaching major resistance at 1.7974 (ABC Fibonacci extension, 61.8% Fibonacci extension, horizontal swing high resistance) and a strong reaction could occur at this level to push price down towards 1.7439 (Fibonacci retracement, Fibonacci extension, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance below 96% where a corresponding reaction could occur. Trading […]

  • GBPAUD testing major support, keep an eye out!

    Price is now testing major support area at 1.7352 (38.2% Fibonacci retracement, 50% Fibonacci retracement, 61.8% Fibonacci retracement), horizontal pullback support) and a strong bounce could occur at this level to push price up to at least 1.7917 (Fibonacci extension, horizontal swing high resistance). Our next major level of support is at 1.7107 (Fibonacci retracement, […]