GBPAUD Wave Analysis – 13 October, 2022

• GBPAUD reversed from resistance zone

• Likely to fall to support level 1.7400

GBPAUD currency pair recently reversed down from the resistance zone lying between the strong resistance level 1.7650 (which has been reversing the pair from July) and the upper daily Bollinger Band.

The downward reversal from this resistance zone is aligned with the active short-term impulse waves (iii) and 3.

Given the clear daily downtrend, GBPAUD can be expected to fall further toward the next support level 1.7400.