FX.co ★ GBPAUD is testing resistance, potential reversal!

Description:

Price is testing our first resistance in line with the trend line, 50% fibonacci retracement and 61.8% fibonacci extension where we could see a reversal below this level.

Trading Recommendation

Entry: 1.82457

Reason for Entry:

trend line, 50% fibonacci retracement and 61.8% fibonacci extension

Take Profit: 1.80843

Reason for Take Profit:

Horizontal pullback support, 50% fibonacci retracement

Stop Loss: 1.83255

Reason for Stop Loss:

horizontal swing high resistance