- GBPAUD broke resistance level 1.8430
- Further gains are likely
GBPAUD continues to rise after the recent breakout of the resistance level 1.8430 (which reversed (a)-wave of the active ABC correction (ii) earlier this month).
The breakout of the resistance level 1.8430 should accelerate the active short-term ABC correction 2 from the middle of April.
GBPAUD is expected to rise further and re-test the next resistance level 1.8600 (top of the previous wave B and the target for the completion of the active correction (ii)).