LeoPrime Daily Market Analysis

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GBPAUD reversed from support level 1.78000. Likely to rise to resistance level 1.80300.

GBPAUD currency pair recently reversed up from the key support level 1.78000 (which has been steadily reversing the price from the start of February, as can be seen blew) – strengthened by the lower daily Bollinger Band. The upward reversal from the support level 1.7800 started the active minor impulse wave (iii). Given the strength of the support level 1.78000, strong bullish sterling sentiment – GBPAUD currency pair can be expected to rise further toward the next resistance level 1.80300 (which stopped previous waves B, 1 and (i)).

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