GBPAUD approaching 1st support, potential bounce!
Price is approaching 1st support, which is in line with 61.8% Fibonacci retracement, 61.8% Fibonacci extension and ascending trendline support. We could see a bounce and further upside towards 1st resistance, in line with 78.6% Fibonacci retracement, 61.8% Fibonacci extension and horizontal swing high resistance. Stochastics is also approaching support where price has bounced from in the past, showing signs of bullish pressure.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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