GBP/AUD: buy target - 2.0000
By: Dima Chernovolov
- GBP/AUD reached buy target 1.9800
- Next buy target - 2.0000
GBP/AUD recently broke above the strong resistance level 1.9800, which was set as the buy target in our previous forecast for this currency pair. The breakout of this resistance level continues the active minor (c)-wave from the middle of April (which started when the pair reversed up from the strong support level 1.9140). The breakout of the resistance level 1.9800 should add to the bullish pressure on this currency pair in the coming trading sessions.
GBP/AUD is likely to rise further toward the next buy target at the major round resistance level 2.0000 (which reversed the previous primary Ⓒ-wave in February). Buy stop-loss can be placed below the support level 1.9800.