Technical analysis

GBPAUD Wave Analysis – 4 February, 2022

GBPAUD Wave Analysis – 4 February, 2022

• GBPAUD reversed from key support level 1.8900

• Likely to rise to resistance level 1.9200

GBPAUD currency pair recently reversed up from the key support level 1.8900 (previous monthly high from September and December), intersecting with the 20-day moving average and the 38.2% Fibonacci correction of the upward impulse from December.

The upward reversal from the support level 1.8900 started the active short-term impulse wave (iii).

GBPAUD currency pair can be expected to rise further toward the next resistance level 1.9200 (top of the previous impulse wave (i)).

Article Rating
Rate this post