GBPAUD Wave Analysis – 9 June, 2020

• GBPAUD under bullish pressure

• Likely to rise to 1.8400

GBPAUD under bullish pressure after the earlier upward reversal from the support area lying between the key support level 1.8080 (former monthly low from October of 2019) and the lower daily Bollinger Band.

This support area was further strengthened by the lower support trendline of the daily down channel from the middle of April.

GBPAUD is likely to rise further in the active short-term corrective wave (ii) toward the next resistance level 1.8400.