GBPAUD: ⬆️ Buy
– GBPAUD reversed from support zone
– Likely to rise to resistance level 1.8940
GBPAUD currency pair recently reversed from the support zone between the support level 1.875 (which stopped sharp daily downtrend in March) and the lower daily Bollinger Band.
The upward reversal from this support zone stopped the previous minor impulse wave iii of the downward impulse wave 3 from April.
Given the strength of the support level 1.875 and the bullish divergence on the daily Stochastic indicator, GBPAUD currency pair can be expected to rise to the next resistance level 1.8940 (top of earlier waves a and ii).