GBPAUD Wave Analysis – 14 July, 2020

• GBPAUD reversed from resistance area

• Likely to fall to 1.7880

GBPAUD recently reversed down from the resistance area located between the resistance level 1.8200, upper daily Bollinger Band and the 50% Fibonacci correction of the previous downward impulse wave 1.

The downward reversal from this resistance area started the active short-term impulse wave 3.

GBPAUD can be expected to fall further toward the next support level 1.7880 (which stopped the previous waves 1 and (b)).