GBP/AUD: 1-hour
Y’all didn’t think I’d leave out the short-term traders out there, did ya? Here’s a simple break-and-retest forex setup on GBP/AUD’s 1-hour chart that you might wanna see. The pair recently made a strong break past the 1.9600 major psychological resistance and zoomed up to the 1.9850 area. Price is making a pullback to the Fib levels marked on the latest swing low and high, with the 50% Fibonacci retracement level lining up with the broken resistance area. Stochastic has already reached the oversold region and is turning higher, which suggests that the area of interest might hold as support.
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