Technical analysis

GBPAUD Wave Analysis – 16 July, 2020

GBPAUD Wave Analysis – 16 July, 2020

• GBPAUD reversed from support level 1.7935

• Likely to rise to 1.8200

GBPAUD today reversed up from the strong support level 1.7935 (which has been steadily reversing the price from the middle of June), standing near the lower daily Bollinger Band.

The upward reversal from this support level 1.7935 stopped the previous minor impulse wave 3.

GBPAUD is likely to rise further toward the next resistance level 1.8200 (top of the previous short-term correction 2).

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