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).