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GBPAUD Wave Analysis 18 November, 2020

GBPAUD Wave Analysis 18 November, 2020

• GBPAUD reversed from round support level 1.8000

• Likely to rise to 1.8280

GBPAUD recently reversed up from the round support level 1.8000 (which stopped the previous medium-term ABC correction (2) at the start of November) – standing close to the lower daily Bollinger Band.

The upward reversal from the support level 1.8000 created the daily Japanese candlesticks reversal pattern Bullish Engulfing – which continues the active impulse wave (3).

GBPAUD is likely to rise further toward the next resistance level 1.8280 (which reversed the price earlier this month).

GBPAUD Wave Analysis 18 November, 2020


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