- GBPAUD reversed from support level 1.9600
- Likely to rise to 2.0000
GBPAUD recently reversed up from the key support level 1.9600 (which stopped the pervious correction (i) in March).
The support zone near the support level 1.9600 was strengthened by the lower daily Bollinger Band and by the 38,2% Fibonacci retracement of the previous upward impulse from last September.
Given the oversold daily Stochastic – GBPAUD is likely to rise toward the next round resistance level 2,0000 (former support from the end of March).