GBP/AUD: buy target - 2.0600
By: Dima Chernovolov
- GBP/AUD reached buy target 2.000
- Next buy target - 2.0600
GBP/AUD has been rising steadily in the last few trading sessions – following the earlier breakout of the major round resistance level 2.000 (which stopped the previous intermediate impulse (1) in February and which was set as the buy target in our previous forecast for this currency pair). The price earlier reversed up with the daily Morning Star from the support zone between the support level 1.9700 and 38.2% Fibonacci Correction of previous impulse from May.
GBP/AUD is likely to rise further inside the active impulse wave 3 toward the next buy target 2.0600 (target price for the completion of the active impulse wave (iii)).