GBPAUD Wave Analysis – 11 October, 2019

• GBPAUD broke resistance zone
• Likely to rise to 1.8800

GBPAUD recently broke the resistance zone lying between the key resistance level 1.8430 and the 61.8% Fibonacci correction of the previous downward wave 2 from May.

The breakout of this resistance zone continues the active short-term impulse wave 3 – which belongs to the impulse wave (3) from July.

GBPAUD is expected to rise further and retest the next resistance level 1.8800 (target price calculated for the completion of the active short-term impulse wave 3).