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).

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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