Market Snapshots

GBPAUD Wave Analysis 3 December, 2020

GBPAUD Wave Analysis 3 December, 2020

• GBPAUD reversed from key support level 1.8000

• Likely to rise to 1.8280

GBPAUD today reversed up once again from the key support level 1.8000 (which has been reversing the price from the start of October as can be seen from the daily GBPAUD chart below).

The support area near the support level 1.8000 was strengthened by the lower daily Bollinger Band and 50% Fibonacci retracement of wave (1) from September.

GBPAUD is expected to rise further toward the next resistance level 1.8280 (top of the previous minor impulse wave 1).

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