Technical analysis

GBPAUD Wave Analysis – 30 July, 2020

GBPAUD Wave Analysis – 30 July, 2020

• GBPAUD broke resistance zone

• Likely to rise to 1,8450

GBPAUD recently broke the resistance zone lying between the resistance level 1,8160, resistance trendline of the daily down channel from the start of June and the 50% Fibonacci correction of the previous ABC wave 2 from May.

The breakout of this resistance zone accelerated the active short-term correction (ii).

GBPAUD is likely to rise further toward the next resistance level 1,8450 (top of the earlier short-term correction 4 from the middle of June).

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