LeoPrime Daily Market Analysis

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GBPAUD rising inside impulse wave (iii); Likely to rise to 0.94000

GBPAUD continues to rise inside the impulse wave (iii) of the intermediate impulse wave C from the start of November. The price earlier broke above the key resistance level 1.91100 (which has been reversing the price from October) – which strengthened the bullish reassure on this currency pair. Given the strength of the strengthening bearish Australian Dollar sentiment seen across the markets today – GBPAUD is likely to rise toward the next resistance level 1.94000 (target for the completion of the active impulse wave (iii)).

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