Market Snapshots

GBPAUD Wave Analysis – 10 July, 2019

GBPAUD Wave Analysis – 10 July, 2019
  • GBPAUD broke resistance area
  • Further gains are likely

GBPAUD recently broke the resistance area lying between the round resistance level 1.8000 and the resistance trendline of the daily down channel from the middle of June.

The breakout of this resistance area accelerated the active short-term corrective wave 2 from the start of July.

GBPAUD is expected to rise further and retest the next resistance level 1.8160 (former key support from May and June).

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