For two weeks GBPAUD has been continuing its upward movement. Last week the demand broke resistance at 1.8830 and yesterday another but stronger resistance at 1.9280 was broken. In previous analysis from April 26 I indicated posibillity of such movement to this level. All this uptrend rally started from support at 1.8320 what you can see at the chart below.
In nearest future upward movement should be continue. Next target for demand is at 1.9590 but stronger resistance is at 1.9880 area. Last mentioned level will be great place for a rebound (if there won’t be correction earlier). Nearest supports are located: 1.9280, 1.9050, 1.8830.
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