Technical analysis

GBPAUD Wave Analysis 10 May, 2021

• GBPAUD reversed from support level 1.7815

• Likely to rise to resistance level 1.8050

GBPAUD recently reversed up from the powerful support level 1.7815 (which has been reversing the price from, the start of March).

The support zone near the support level 1.7815 was strengthened by the lower daily Bollinger Band and by the 50% Fibonacci correction of the upward impulse (1) from January.

GBPAUD is likely to rise further toward the next resistance level 1.8050 (which reversed the previous waves B, 1 and (i)).

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