Technical analysis

GBPAUD Wave Analysis – 20 June 2023


– GBPAUD rising inside impulse wave 3

– Likely to reach resistance level 1.9130

GBPAUD currency pair continues to rise inside the minor impulse wave 3, which started earlier with the daily Bullish Engulfing from the support level 1.8525.

The active minor impulse wave 3 belongs to the intermediate impulse sequence (3) from February.

Given the prevailing uptrend, GBPAUD can be expected to rise further toward the next resistance level 1.9130 (which stopped the previous impulse wave (c) at the end of last month).

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