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GBPAUD testing strong resistance once again,potential for a drop

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Brittiska pund/Australiensiska dollar (FX:GBPAUD)  
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FX:GBPAUD   Brittiska pund/Australiensiska dollar
Trend Analysis Harmonic Patterns Chart Patterns GBPAUD GBP aud gbpusdlong gbpusdidea gbpusdshort gbpusdsignal gbpusdtrade Forex
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trendanalysis harmonicpatterns chartpattern gbpaud gbp aud gbpusdlong gbpusdidea gbpusdshort gbpusdsignal gbpusdtrade forex
GBPAUD is testing major resistance at 1.7847 (Fibonacci extension, Fibonacci retracement, horizontal overlap resistance) and a strong reaction could occur at this level to push price down to 1.7439 support (Fibonacci retracement, horizontal swing low support).

Stochastic (34,5,3) is seeing major resistance at 96% where a corresponding reaction could occur.

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Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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