October 02, 2020 at 03:31PM

• GPBAUD reversed from support level 1.7900

• Likely to rise to 1.8260

GPBAUD continues to rise after the earlier upward reversal from the support level 1.7900, intersecting with 50% Fibonacci correction of the previous upward impulse wave (1).

If the pair closes today near the current levels it will form the daily Japanese candlesticks reversal pattern Bullish Engulfing.

GPBAUD is likely to rise further toward the next resistance level 1.8260 (which stopped the two previous waves – 4 and (1)).

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From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/gpbaud-wave-analysis-2-october-2020-20201002/
Selected by fonecable.com

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