GBP/AUD Approaching Support, Prepare For A Bounce!

GBP/AUD is approaching its support at 1.7274 (61.8% Fibonacci extension 50% & 38.2% Fibonacci retracement, horizontal swing low support) where it could potentially bounce up to its resistance at 1.7571 (38.2% Fibonacci retracement, horizontal pullback resistance).

Stochastic (89, 5, 3) is approaching its support at 1.712% where a corresponding bounce could occur.

GBP/AUD is approaching its support where we expect to see it bounce.

Buy above 1.7274. Stop loss at 1.7087. Take profit at 1.7571.

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The material has been provided by InstaForex Company - www.instaforex.com