GBPAUD approaching pivot, potential for bounce | 20th Oct

GBPAUD approaching pivot, potential for bounce | 20th Oct for FX:GBPAUD by FXCM

GBPAUD approaching pivot, potential for bounce | 20th Oct



Price is trading in a descending channel and is heading to our buy entry price of 1.83588 which is also -27.2% Fibonacci retracement . Price can then do a short term bounce from this level and reach the take profit level of 1.85105 which is 38.2% Fibonacci retracement level and 61.8% projection level. Our bullish bias is supported by stochastic which shows that it is on support level .

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