GBPAUD currency pair recently reversed up with the weekly Hammer from the powerful support level 1.74300 (which started the sharp uptrend at the start of January, as can be seen from the daily GBPAUD chart below), standing close to the lower daily Bollinger Band. Given the strength of the aforementioned support level 1.74300, oversold weekly Stochastic and the strongly bullish new sterling dollar sentiment across the FX markets today – GBPAUD currency pair can be expected to rise further toward the next resistance level 1.76000.