GBPAUD Approaching Resistance, Prepare For Reversal!
Sell below 1.7666.
Stop loss at 1.7810.
Take profit at 1.7303.
Reason for the trading strategy (technically):
GPDAUD is approaching its resistance at 1.7666 (61.8% Fibonacci extension, 50% & 23.6% Fibonacci retracement, horizontal pullback resistance) where a reversal to its support at 1.7303 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support) is expected.
Stochastic (89, 5, 3) is approaching its resistance at 94% where a corresponding drop is expected.
Stop loss at 1.7810.
Take profit at 1.7303.
Reason for the trading strategy (technically):
GPDAUD is approaching its resistance at 1.7666 (61.8% Fibonacci extension, 50% & 23.6% Fibonacci retracement, horizontal pullback resistance) where a reversal to its support at 1.7303 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support) is expected.
Stochastic (89, 5, 3) is approaching its resistance at 94% where a corresponding drop is expected.