GBPAUD Wave Analysis 11 July 2024

– GBPAUD reversed from support level 1.8945,

– Likely to rise to resistance level 1.3700

GBPAUD currency pair recently reversed up from the powerful support level 1.8945, which has been repeatedly reversing the price from the start of May.

The price made numerous Japanese candlesticks reversal patterns near the support level 1.8945 – forming the daily Bullish Engulfing pattern just recently.

Given the predominantly bullish sterling sentiment seen across the FX markets today, GBPAUD currency pair can be expected to rise further to the next resistance level 1.9200.