• GBPAUD reversed from support area
• Likely to rise to resistance level 1.8255

GBPAUD currency pair continues to rise after the price reversed up with the daily Doji from the support area located between the pivotal support level 1.8000 (which has been reversing the price from the start of October), lower daily Bollinger Band and the 50% Fibonacci correction of the previous upward impulse from the start of September.  The upward reversal from the support level 1.8000 stopped the previous minor impulse wave 3.

Given the predominantly bullish sterling sentiment seen today on hops for the progress in Brexit negotiations – GBPAUD can be expected to rise toward the next resistance level 1.8255 (which stopped the previous waves A, C and 2 as can be seen below).