GBPAUD Wave Analysis – 4 July, 2019

• GBPAUD reversed from support area
• Further gains are likely

GBPAUD recently reversed up from the support area lying between the support level 1.7870 (previous monthly low from February) and the lower daily Bollinger Band.

The upward reversal from this support area stopped the previous short-term impulse wave 1 – which belongs to wave (C) from June).

GBPAUD is expected rise fall further and retest the next resistance level 1.8000 (former support from February).