GBPAUD approaching resistance, potential bounce!

١٦ يناير ٢٠١٩

GBPAUD is approaching our first resistance at 1.7957 (Horizontal overlap resistance, 100% fibonacci extension, 50% fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 1.7835 (38.2% Fiboancci retracement).
Stochastic (55,5,3) is also approaching resistance and we might see a corresponding fall in price should it react off this level.
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