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GBPAUD reacting below descending trendline resistance. Prices might push down towards 1st support in line with horizontal swing low support as well as 100% Fibonacci extension. RSI is also facing bearish pressure from descending trendline resistance.
Reason for Entry:
78.6% Fibonacci retracement, Descending trendline resistance
Take Profit: 1.79303
Reason for Take Profit:
100% Fibonacci extension
Stop Loss: 1.80612
Reason for Stop Loss:
Horizontal swing high resistance, 78.6% Fibonacci extension
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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