GBPAUD Wave Analysis 26 February, 2021

• GBPAUD reversed from support area

• Likely to reach resistance level 1.8030

GBPAUD recently reversed up from the support area lying between the pivotal support level 1.773, lower daily Bollinger band and the 50% Fibonacci correction of the previous upward impulse (i) from January.

The upward reversal from this support level 1.773 started the active minor impulse wave (iii).

GBPAUD is likely to rise further toward the next resistance level 1.8030 (top of the previous waves (i) and (b) from the start and the middle of February).