• GBPAUD reversed from key support level 1.7800
• Likely to rise to 1.8080
GBPAUD recently reversed up from the key support level 1.7800 (which has been reversing the price from the star of March) – standing near the lower daily Bollinger Band.
The upward reversal form the support level 1.7800 created the daily Japanese candlesticks reversal pattern Bullish Engulfing – which started the active impulse wave 3.
GBPAUD is likely to rise further toward the next resistance level 1.8080 (top of the previous corrective wave (b)).
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