Categories: Technical analysis

GBPAUD Wave Analysis – 28 April 2023

• GBPAUD under bullish pressure

• Likely to rise to resistance level 1.9200

GBPAUD under the bullish pressure after the price broke the resistance level 1.8700 (which stopped the previous impulse wave 3 at the start of April).

The breakout of the resistance level 1.8700 accelerated the active minor impulse wave 5 from the middle of this month.

Given the prevailing daily uptrend, GBPAUD can be expected to rise further toward the next resistance level 1.9200 (intersecting with the daily up channel from February).

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.

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Tags: GBPAUD

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