GBP/AUD reversed from support area

GBP/AUD reversed from support area

  • GBP/AUD reversed from support area
  • Next buy target - 1.8500

 

GBP/AUD recently reversed up from the support area lying between the key support level 1.8200 (former support level from January which also reversed the previous intermediate impulse wave (A) earlier this month, as can be seen below), upper trendline of the daily up channel from January and the 38.2% Fibonacci retracement of the upward impulse (iii) from March.  GBP/AUD is expected to rise toward the next buy target at next resistance level 1.8500.

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