GBPAUD Wave Analysis – 06 April, 2020

• GBPAUD reversed from key resistance area
• Likely to fall to 2.000

GBPAUD recently reversed down from the key resistance area lying between the major resistance level 2.0600 (which has been revering the price from the start of March) and the upper daily Bollinger Band.

The downward reversal from this resistance area started the active short-term corrective wave (ii).

GBPAUD is likely to fall further toward the next round support level 2.000 (former support from the end of March and the target for the completion of the active correction (ii)).