Technical analysis

GBPAUD Wave Analysis – 27 July, 2021

• GBPAUD broke resistance zone

• Likely to rise to resistance level 1.8900

GBPAUD currency pair recently broke the resistance zone lying between the resistance level 1.8700 (top of the previous impulse wave (i) from the middle of July) and the resistance trendline of the daily up channel from May.

The breakout of this resistance zone accelerated the active short-term impulse waves (iii) and 3.

GBPAUD currency pair can be expected to rise further toward the next resistance level 1.8900 (target price for the completion of the active impulse wave 3).

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