GBPAUD Wave Analysis – 27 February, 2019

• GBPAUD broke resistance level 1.8500
• Further gains are likely

GBPAUD recently broke above the key resistance level 1.8500 (which stopped the previous sharp impulse wave (i) at the end of January, as can be seen below).

The breakout of the resistance level 1.8500 accelerated the active short-term impulse wave (iii) of the medium-impulse wave 3 from November.

GBPAUD is expected to rise further and re-test the next resistance level 1.8730 (multi-month high from October and the target price for the completion of the active impulse wave (iii)).