GBPAUD bounced nicely off its support!
GBPAUD bounced nicely off its support at 1.7909 (61.8%, 61.8% &50% Fibonacci retracement, horizontal overlap support) where a potentially bounce on weakness may happen, causing price to rise to its resistance at 1.8246 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance). We do have to be cautious of the intermediate resistance at 1.8047 (23.6% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) bounced nicely off its support at 2.9% where a corresponding rise could occur. We have also identified a bullish divergence with price which contributes to our bullish bias.
Stochastic (89, 5, 3) bounced nicely off its support at 2.9% where a corresponding rise could occur. We have also identified a bullish divergence with price which contributes to our bullish bias.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.