GBPAUD is approaching our first support at 1.8052 (horizontal pullback support, 38.2%, 50% Fibonacci retracement, 100% Fibonacci extension) and a strong reaction might occur above this level pushing price up to our major resistance at 1.8250 (Horizontal overlap resistance, 61.8% Fibonacci retracement). Stochastic (55,5,3) is also approaching support where we might see a corresponding rise in price should it bounce off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.

Share this post: