GBPAUD technical analysis.

GBPAUD - Daily

Market (21/55) is converging. Price (5 above 8) is flat. Stochastic is overbought. Resistance levels at MR2/1.70, 1.71 and MR3/1.72. Support levels at MM4/1.68, MR1/1.66 and MPP/1.64. Price has reached the bulls profit target (MR2/MM4) and as per pivot point theory might return to MPP.

GBPAUD - H4

Market (21 above 55) is flat. Price (8 above 5) is bearish. Stochastic is oversold. Resistance levels at 1.69, WM3/1.7/MR2, 1.71. Support levels at WPP/MM4/1.68, WM2/1.665, MR1/1.66 and WS1/1.655. Price has made a double top at WM3 and made a lower low, Bears would wait for a entrancement and sell when price find resistance at the above mentioned resistance levels.

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