GBP/AUD: 4-hour
Pound bulls, watch out! GBP/AUD has been on a strong rally in the past few weeks, but it appears to be stalling at a resistance level and may head back south soon. The pair is having a tough time extending its climb past the 1.8000 area, which lines up with the 61.8% Fibonacci retracement level and the broken rising trend line. If this area continues to hold as a ceiling, GBP/AUD could resume its drop and probably test its previous lows near the 1.7200 major psychological support. Stochastic has already reached the oversold zone though, which suggests that buyers could still try to push the pair back up.
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