Technical analysis

GBPAUD Wave Analysis 14 December, 2020

GBPAUD Wave Analysis 14 December, 2020

• GBPAUD rising inside impulse wave 1

• Likely to reach 1.7865

GBPAUD continues to rise inside the minor upward impulse wave 1 – which belongs to the medium-term upward impulse wave (C) which started earlier from the key support level 1.7500.

The support area near the support level 1.7500 was strengthened by the lower daily Bollinger Band.

GBPAUD is expected to rise further toward the next resistance level 1.7865 (former monthly low from October which stopped the earlier wave B)

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