Categories: Technical analysis

GBPAUD Wave Analysis 16 January 2024

– GBPAUD broke weekly down channel

– Likely to rise to resistance level 1.9265

GBPAUD currency pair recently broke the resistance trendline of the weekly down channel from last September.

The breakout of this this down channel accelerated the active intermediate impulse wave (3).

Given the strong Swiss franc sales seen across the FX markets today, USDCHF can be expected to rise further to the next resistance level 1.9265 (which has been reversing the price from October).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

Share
Published by
The FxPro Tech Analysis Team
Tags: GBPAUD

Recent Posts

EURCAD Wave Analysis 6 September 2024

- EURCAD reversed from pivotal support level 1.4900 - Likely to rise to resistance level…

2 days ago

EURUSD Wave Analysis 6 September 2024

- EURUSD reversed from support level 1.1030 - Likely to rise to resistance level 1.1200…

2 days ago

Further Unwinding of Carry Trade

The unwinding of the carry trade in the FX market continues, with the major safe…

2 days ago

Bitcoin pressured by risk-off mood

Market Picture The pressure on risk assets continues, pushing the crypto market capitalisation back below…

2 days ago

AUDUSD Wave Analysis 5 September 2024

- AUDUSD reversed from support level 0.6700 - Likely to rise to resistance level 0.6800…

2 days ago

Gold Wave Analysis 5 September 2024

- Gold reversed from support level 2475.00 - Likely to rise to resistance level 2535.00…

2 days ago

This website uses cookies