GBPAUD: ⬇️ Sell
– GBPAUD reversed from resistance zone
– Likely to fall to support level 1.9115
GBPAUD currency pair recently reversed from the resistance zone between the key resistance level 1.9365 (former monthly high from March), upper daily Bollinger Band and the 50% Fibonacci correction of the downward impulse from December.
The downward reversal from this resistance area stopped the earlier minor impulse wave 3 of the medium-term impulse wave (C) from June.
Given the strength of the resistance level 1.9365 and the overbought daily Stochastic, GBPAUD currency pair can be expected to fall further to the next support level 1.9115.