GBPAUD Wave Analysis 27 November 2024

- GBPAUD broke daily down channel
- Likely to rise to resistance level 1.9600

GBPAUD currency pair today broke the resistance trendline of the daily down channel from the end of October (which encloses the earlier downward ABC correction (2) – which stopped earlier at the support level 1.9275).

The breakout of this down channel should accelerate the active impulse wave (3) – which belongs to the higher order impulse wave 3 from October.

GBPAUD currency pair can be expected to rise to the next resistance level 1.9600 (former top of wave B of the previous ABC correction (2)).