Categories: Technical analysis

GBPAUD Wave Analysis – 30 April, 2019

  • GBPAUD broke resistance level 1.8430
  • Further gains are likely

GBPAUD continues to rise after the recent breakout of the resistance level 1.8430 (which reversed (a)-wave of the active ABC correction (ii) earlier this month).

The breakout of the resistance level 1.8430 should accelerate the active short-term ABC correction 2 from the middle of April.

GBPAUD is expected to rise further and re-test the next resistance level 1.8600 (top of the previous wave B and the target for the completion of the active correction (ii)).

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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