Tickmill
Long

GBPAUD testing major support, keep an eye out!

FX:GBPAUD   Britisches Pfund / Australischer Dollar
Price is now testing major support area at 1.7352 (38.2% Fibonacci retracement , 50% Fibonacci retracement , 61.8% Fibonacci retracement ), horizontal pullback support) and a strong bounce could occur at this level to push price up to at least 1.7917 ( Fibonacci extension , horizontal swing high resistance). Our next major level of support is at 1.7107 ( Fibonacci retracement , horizontal swing low support).

Stochastic (34,5,3) is seeing nice support above 2.5% where a corresponding bounce could occur.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Guys, get more real-time updates on our trading ideas here : https://t.me/tickmillroom

This analysis is provided as general market commentary and does not constitute investment advice.
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