GBPAUD Wave Analysis 29 January 2025

- GBPAUD rising inside impulse wave 3
- Likely to rise to resistance level 2.0100

GBPAUD currency pair continues to rise inside the minor impulse wave 3, which started earlier from the key support level 1.9600 – which reversed the price for 5 consecutive days.

The support level 1.9600 was strengthened by the lower daily Bollinger Band and by the 61.8% Fibonacci correction of the upward impulse from November.

Given the strong daily uptrend, GBPAUD can be expected to rise further to the next resistance level 2.0100 (which stopped the previous minor correction ii at the start of this month).