GBPAUD Testing Resistance, Potential Reversal!
GBPAUD is testing its resistance at 1.7916 (50%, 61.8% & 76.4% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse, causing price to fall to its support at 1.7724 (38.2% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal could occur. We have also identified a bearish divergence with price which contributes to our bearish bias.
Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal could occur. We have also identified a bearish divergence with price which contributes to our bearish bias.
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