GBPAUD recently reversed up sharply from the support area lying between the lower daily Bollinger Band and the strong support level 1.7300 (low of wave (A) and multi-month low from August).
The upward reversal from this support area completed the earlier short–term impulse wave 5 – which belongs to the medium impulse wave (C) from the start of October.
GBPAUD is expected to rise further and re-test the next resistance level 1.7600.Strong support remains at the support level 1.7300.
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