GBPAUD Wave Analysis

  • GBPAUD reversed from pivotal support level 1.8945
  • Likely to rise to resistance level 1.9400

GBPAUD currency pair recently reversed up from the pivotal support level 1.8945 (which has been repeatedly reversing the pair from the start of July) intersecting with the lower daily Bollinger Band and support trendline of the daily down channel from August.

The upward reversal from the support level 1.8945 stopped the C-wave from the start of September.

Given the clear daily uptrend and strong AUD sales across the FX markets, GBPAUD can be expected to rise further toward the next resistance level 1.9400.

FxPro is an award-winning online broker offering Contracts for Difference (CFDs) on forex, futures, spot indices, shares, spot metals and spot energies. FxPro serves clients in over 150 countries worldwide and offers multilingual customer support 24/5. Trading CFDs involves significant risk of loss.

Featured Analysis

Learn Forex Trading