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GBPAUD recently reversed up from the support area lying between the support level 1.8625 (previous sell target) and the 50% Fibonacci correction of the previous upward impulse form the start of October. The upward reversal from this support area stopped the earlier short-term ABC corrective wave
Given moderate bullish Sterling sentiment seen across the markets today – GBPAUD is likely to rise further toward the next resistance level 1.0890 (former powerful resistance level from March and May).
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