GBP/AUD reversed from support zone

• GBP/AUD reversed from support zone
• Next buy target - 1.7730

 GBP/AUD recently reversed up from the support zone lying between the support level 1.7380 (low of wave (b) from January) and the lower daily Bollinger Band. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Piercing Line – which started the active correction (4). GBP/AUD is expected to rise further toward the next buy target at the next resistance level 1.7730 (high of the Shooting Star from last Friday).

Dmitry Chernovolov

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