GBPAUD Wave Analysis 7 January, 2021

• GBPAUD reversed from key support level 1.7465

• Likely to rise to 1,7865

GBPAUD recently reversed up exactly from the key support level 1.7465 (which stopped the previous sharp downward impulse wave (iii) in December as can be seen below).

The support area near the support level 1.7465 was further strengthened by the nearby lower daily Bollinger Band.

GBPAUD is expected to rise further toward the next resistance level 1,7865 (which reversed the previous corrections (a) and (c) in December).