Lovely retrace on the daily to the golden Fibonacci level of 618. Complete rejection, in addition to rejecting a key support/resistance line at the level of ~1.64.
1. Rejection of 0.618 Fib level on the daily retracement
2. Rejection of ~1.64 level
3. Massive RSI divergence across all time frames (4h and below)
4. 4H RSI is extremely high (~80). Only happens a few times/year. Typically leads to a massive drop.
No target set yet, but according to Fib extensions, 1.58 looks doable, especially with Brexit talks next week.
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1. Rejection of 0.618 Fib level on the daily retracement
2. Rejection of ~1.64 level
3. Massive RSI divergence across all time frames (4h and below)
4. 4H RSI is extremely high (~80). Only happens a few times/year. Typically leads to a massive drop.
No target set yet, but according to Fib extensions, 1.58 looks doable, especially with Brexit talks next week.
GBPAUDGBPAUDGBPAUD
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