GBPAUD currency pair recently broke above the resistance level 1.75600 interesting with the 61.8% Fibonacci correction of the downward impulse (i) from the start of July. The breakout of the resistance level 1.75600 accelerated the active minor corrective wave (ii). Given the clear predominantly bullish sterling sentiment seen across the FX markets today, GBPAUD currency pair can then be expected to rise further toward the next resistance level 1.77550 (target price for the completion of the active minor corrective wave (ii)).
