GBP/AUD reversed from support area

GBP/AUD reversed from support area

  • GBP/AUD reversed from support area
  • Next buy target - 1.7000

GBP/AUD recently reversed up sharply from the support area lying between the pivotal support level 1.6750 (former resistance level from August), lower daily Bollinger Band and the 50% Fibonacci correction of the previous intermediate ABC correction (2) from August. The upward reversal from this support area stopped the earlier minor impulse wave 3. GBP/AUD is expected to rise to the next buy target at the next resistance level 1.7000 (top of the previous minor correction 2).

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