GBPAUD Technical Analysis Report 28 May, 2021

• GBPAUD broke resistance level 1.8330
• Likely to rise to resistance level 1.8485

GBPAUD currency pair recently broke above the key resistance level 1.8330 (which has been reversing the pair from last November). The breakout of the resistance level 1.8330 accelerated the active minor impulse wave 5 – which belongs to the intermediate impulse wave (C) from the middle of April.

Given the strong daily uptrend, rising sterling bullishness seen across the FX markets today and the proximity of the aforementioned price level 1.8330 (acting as support after it was broken) – GBPAUD currency pair can be expected to rise further toward the next resistance level 1.8485 (former double top from October).

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