Technical analysis

GBPAUD Wave Analysis 12 April 2024

– GBPAUD reversed from support level 1.918

– Likely to rise to resistance level 1.9360

GBPAUD recently reversed up from the key support level 1.918 (which has been reversing the price from January).

The support level 1.918 was strengthened by the lower daily Bollinger Band and by the 38.2% Fibonacci correction of the upward impulse from December.

GBPAUD can be expected to rise further to the next resistance level 1.9360 (middle of the sideways price range inside which the pair has been moving from January).

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