GBP/AUD rising inside impulse waves 3 and (3)

GBP/AUD rising inside impulse waves 3 and (3)

2019-11-11 • Updated

  • GBP/AUD rising inside impulse waves 3 and (3)
  • Next buy target - 1.7210

GBP/AUD continues to rise inside the minor impulse wave 3, which is a part of the intermediate impulse wave (3) from the end of March. The price earlier broke through the resistance zone lying between the key resistance level 1.6750 (top of the previous wave B) and the 61.8% Fibonacci correction level of the previous downward impulse from December. 

GBP/AUD is expected to rise further to the next buy target at the strong resistance level 1.7210 (which reversed the previous primary upward impulse wave ① in January).

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