GBP/AUD: buy target - 2.2000
By: Dmitriy Chernovolov
- GBP/AUD reached buy target 2.1600
- Next buy target - 2.2000
GBP/AUD has been rising sharply in the last few trading sessions inside the 3rd intermediate impulse wave (3) – which was accelerated recently by the breakout of the resistance trendline of the daily down channel from September. The active impulse wave (3) (which is a part of the primary impulse wave ③ from the start of October) started earlier – when the pair reversed up with the daily Morning Star from the support level 2.1200, as you can see below.
Having recently reached the resistance level 2.1600 (previous buy target set for this currency pair) - GBP/AUD is likely to rise further toward the next buy target at the next resistance level 2.2000.