GBPAUD Wave Analysis

  • GBPAUD reversed from key support level 1.9135
  • Likely to rise to resistance level 1.9400

GBPAUD currency pair recently reversed up from the key support level 1.9135, which reversed the price sharply in April.

The support level 1.9135 was strengthened by the lower daily Bollinger Band and by the 50% Fibonacci correction of the previous sharp upward impulse from January.

Given the strength of the support level 1.9135, GBPAUD pair can be expected to rise further to the next resistance level 1.9400 (which has been reversing the price from April).

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