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GBPAUD testing strong resistance once again,potential for a drop

Oleh Tickmill
Broker
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.

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Tickmill
Broker
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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