GBPAUD Wave Analysis

  • GBPAUD under bullish pressure
  • Likely to rise to resistance level 1.9200

GBPAUD under the bullish pressure after the price broke the resistance level 1.8700 (which stopped the previous impulse wave 3 at the start of April).

The breakout of the resistance level 1.8700 accelerated the active minor impulse wave 5 from the middle of this month.

Given the prevailing daily uptrend, GBPAUD can be expected to rise further toward the next resistance level 1.9200 (intersecting with the daily up channel from February).

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