GBPAUD approaching support, potential bounce!

2 ต.ค. 2018

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 approaching support where we might see a corresponding bounce in price.
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