GBPAUD today broke below the key support level 1.7500 (which stopped the previous impulse wave (i) earlier this month and also at the end of August, as can be seen below).
The breakout of the support level 1.7500 continues the active short-term impulse wave C of the medium-term ABC correction (2) from the start of October.
GBPAUD is expected to fall further and re-test the next support level 1.7300 (monthly low from August and the target price for the completion of the active impulse wave C).
German industrial production continues to decline. The rate of contraction in March was slightly better…
US indices have been gaining daily since the beginning of May. They have found strength…
Market picture The crypto market has lost 2% of its capitalisation over the last 24…
- S&P 500 reversed from support level 5000.00 - Likely to rise to resistance level…
- USDCHF reversed from support zone - Likely to rise to resistance level 0.9200 USDCHF…
The single currency is trading near $1.076, waiting for further cues and facing serious resistance…
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