Categories: Technical analysis

GBPAUD Wave Analysis – 26 May, 2022

• GBPAUD reversed from support level 1.7620
• Likely to rise to resistance level 1.7825

GBPAUD recently reversed up from the support level 1.7620, which is the lower boundary of the tight sideways price range inside which the pair has been moving from the start of May.

The support level 1.7620 was further strengthened by the 20-day moving average and by the 38.2% Fibonacci correction of the earlier upward correction (ii).

GBPAUD can be expected to rise further toward the next resistance level 1.7825 (upper boundary of the active sideways price range).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

Share
Published by
The FxPro Tech Analysis Team
Tags: GBPAUD

Recent Posts

The dollar has reached range limits

The US dollar has strengthened, reaching the upper boundary of its trading range. The British…

2 hours ago

Crypto: Tug-of-war at new altitude

Cryptocurrencies continued to surge, pushing the total cap to $3 trillion. Bitcoin has gained nearly…

3 hours ago

USDJPY Wave Analysis 13 November 2024

- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…

22 hours ago

USDJPY Wave Analysis 13 November 2024

- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…

22 hours ago

WTI crude Wave Analysis 13 November 2024

- WTI crude oil reversed from the multi-year support level 66.70 - Likely to rise…

22 hours ago

Japanese inflation continues to rise

Japanese inflation is rising, with corporate goods prices inflation accelerating to 3.4% y/y in October,…

1 day ago

This website uses cookies