Categories: Technical analysis

GBPAUD Wave Analysis – 6 May, 2022

• GBPAUD reversed from support level 1.7200
• Likely to rise to resistance level 1.7493

GBPAUD currency pair recently reversed up sharply from the key support level 1.7200 (which stopped wave 1 at the start of April).

The upward reversal from the support level 1.7200 created the daily candlesticks reversal pattern Hammer – standing far below the lower daily Bollinger Band.

GBPAUD can be expected to rise further toward the next resistance level 1.7493 (former support pivot from the middle of April).

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.

Share
Published by
The FxPro Tech Analysis Team
Tags: GBPAUD

Recent Posts

GBPUSD Wave Analysis 22 November 2024

- GBPUSD broke support zone - Likely to fall to support level 1.2465 GBPUSD currency…

9 hours ago

USDCHF Wave Analysis 22 November 2024

- USDCHF broke resistance zone - Likely to rise to resistance level 0.9000 USDCHF currency…

9 hours ago

Downbeat PMIs Cemented EURUSD’s Fall

The decline in EURUSD was driven by weak PMI figures, with France and Germany both…

9 hours ago

Gold hits new highs in euro

Gold has reached record high in euro above 2600, and growing fast in dollar terms…

13 hours ago

Crypto market buzzing in anticipation of regulatory change

The crypto market is booming as the anticipation of regulatory changes grows. Bitcoin nears $100K,…

15 hours ago

GBPCAD Wave Analysis 21 November 2024

- GBPCAD broke support zone - Likely to fall to support level 1.7500 GBPCAD currency…

1 day ago

This website uses cookies