GBPAUD Wave Analysis 24 July 2024

– GBPAUD broke multi-month resistance level 1.9510

– Likely to rise to resistance level 1.9700

GBPAUD currency pair recently broke above the multi-month resistance level 1.9510 (which has been reversing the price from February).

The breakout of the resistance level 1.9510 accelerated the C-wave of the active ABC correction (2) from the start of May.

GBPAUD currency pair can be expected to rise further to the next resistance level 1.9700 (target price for the completion of the active ABC correction (2)).