Market Snapshots


GBPAUD rising inside the impulse wave (iii)

GBPAUD rising inside the impulse wave (iii)
  • GBPAUD rising inside the impulse wave (iii)
  • Further gains are likely

 

GBPAUD continues to rise inside the active impulse wave (iii) – which stared earlier from the key support level 1.0400 (which has been reversing the price from the middle of February).

 

This support level was further strengthened by the lower daily Bollinger Band and by the 38.2% Fibonacci correction of the previous sharp upward impulse from February.

 

GBPAUD is expected to rise further and re-test the next resistance level 1.8760 (which has been reversing the price from the start of this month).

Source: FxPro

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