Market Snapshots

GBPAUD Wave Analysis – 29 November, 2019

GBPAUD Wave Analysis – 29 November, 2019
  • GBPAUD reversed from resistance level 1.9070
  • Likely to fall to 1.8900

GBPAUD recently reversed down from the resistance level 1.9070 (monthly high from October) – strengthened by the upper daily Bollinger Band.

The downward reversal from the resistance level 1.9070 created the daily Japanese candlesticks reversal pattern Falling Star.

GBPAUD is expected to fall further toward the next key support level 1.8900 (low of the previous short-term correction (ii)).

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