Categories: Technical analysis

GBPAUD Wave Analysis 3 December, 2020

• GBPAUD reversed from key support level 1.8000

• Likely to rise to 1.8280

GBPAUD today reversed up once again from the key support level 1.8000 (which has been reversing the price from the start of October as can be seen from the daily GBPAUD chart below).

The support area near the support level 1.8000 was strengthened by the lower daily Bollinger Band and 50% Fibonacci retracement of wave (1) from September.

GBPAUD is expected to rise further toward the next resistance level 1.8280 (top of the previous minor impulse wave 1).

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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