Today we take a look at GBPAUD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. GBPAUD is facing bullish pressure and could potentially rise to our first take profit level at 1.80420, in line with our 50% Fibonacci retracement level and horizontal swing high resistance, and possibly rise even further to the second take profit level at 1.80850, which is in line with our 61.8% Fibonacci retracement level. It is worth noting that price has just crossed above the EMA (21), which shows bullish pressure in line with our analysis.
The material has been provided by InstaForex Company – www.instaforex.com
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