GBPAUD: ⬇️ Sell
– GBPAUD reversed from long-term resistance level 2.0820
– Likely to fall to support level 2.030
GBPAUD currency pair recently reversed from the resistance area located between the long-term resistance level 2.0820 (former multiyear high from 2020), resistance trendline of the weekly up channel from 2024 and the upper weekly Bollinger Band.
The downward reversal from this resistance area stopped the earlier short-term impulse wave 3 of the weekly upward impulse sequence (3) from the start of 2024.
Given the strength of the resistance level 2.0820 and the overbought weekly Stochastic, GBPAUD currency pair can be expected to fall to the next support level 2.030.
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