Daily Trade Ideas: 18/12/18 2:00 AEST
GBPUSD approaching resistance, potential reversal!
GBPUSD is approaching our first resistance at 1.2684 (100% Fibonacci extension, 23.6% Fibonacci retracement , horizontal overlap resistance) where a potential reversal might occur below this level pushing price down to our major support at 1.2525 (76.4% Fibonacci retracement, horizontal swing low support).
Stochastic (21, 5, 3) is approaching our resistance where we might see a potential reversal below this level.
CADCHF approaching support, potential bounce!
CADCHF is approaching our first support at 0.7366 (horizontal swing low support, 100% Fibonacci extension x2) where a strong bounce might occur above this level pushing price up to our major resistance at 0.7461 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance).
Stochastic (55,5,3) is also approaching support and we might see a corresponding bounce in price.
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