Technical analysis

GBPAUD Wave Analysis 25 April 2024

– GBPAUD reversed from support level 1.9135

– Likely to rise to resistance level 1.9360

GBPAUD currency pair recently reversed up from the pivotal support level 1.9135, which has been reversing the price from the start of April, intersecting with the lower daily Bollinger Band and the 50% Fibonacci correction of the previous upward impulse 1 from December.

The upward reversal from the support level 1.9135 created the daily Japanese candlesticks reversal pattern Hammer Doji.

Give the strength of the support level 1.9135, GBPAUD currency pair can be expected to rise further to the next resistance level 1.9360.

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