Technical analysis

GBPAUD Wave Analysis – 28 October, 2022

GBPAUD Wave Analysis – 28 October, 2022

• GBPAUD reversed from support level 1.7635

• Likely to rise to resistance level 1.8200

GBPAUD recently reversed up from the pivotal support level 1.7635 (former resistance from July and August, intersecting with the 38.2% Fibonacci correction of the upward impulse from September).

The upward reversal from the support level 1.7635 started the active shot-term correction 2 .

GBPAUD can be expected to rise further toward the next resistance level 1.8200 (top of the previous wave (2) and the target for the completion of the active wave 2).

Article Rating
Rate this post