GBPAUD Wave Analysis – 30 August, 2021

• GBPAUD reversed from support zone

• Likely to rise to resistance level 1.9000

GBPAUD recently reversed up from the support zone located between the support level 1.88 (which has been reversing the price from the start of August) and the 38.2% Fibonacci correction of the upward impulse form July.

The upward reversal from this support zone stopped the previous short-term corrective wave (ii).

Given the strong multi-month uptrend – GBPAUD can be expected to rise further toward the next round resistance level 1.9000.