GBPAUD currency pair recently reversed up from the key support area lying between the support level 1.77000 (former strong resistance from the middle of January), lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse (i) from the start of January. Given the strength of the aforementioned support area and the predominant bearish Australian dollar sentiment seen across the FX markets today – GBPAUD currency pair is likely to rise further toward the next resistance level 1.80200 (top of the previous waves (iii), (i) and (b)).