GBPAUD facing bearish pressure, potential for further downside!

26 Nis 2021

Prices are facing bearish pressure from horizontal swing high resistance in line with 61.8% Fibonacci retracement and 161.8% Fibonacci extension. Prices might push down towards horizontal swing low support which is in line with 78.6% Fibonacci retracement and 161.8% Fibonacci extension. If prices push up further, prices might face resistance from horizontal swing high resistance in line with 78.6% Fibonacci retracement and 127.2% Fibonacci extensions. EMA is also above prices, showing a bearish pressure for prices.