GBPAUD recently reversed up sharply from the key support area lying between the key support level 1.75000 (monthly low from September) and the lower daily Bollinger Band. The upward reversal from the support level 1.75000 created the daily Japanese candlesticks reversal pattern Hammer – standing well below the lower daily Bollinger Band – which is a strong buy signal for this currency pair. Given the strength of the support level 1.75000 and the rising bullish sterling sentiment seen across the currency markets today – GBPAUD is expected to extend the gains toward the next resistance level 1.80000 (former powerful support from November)