Technical analysis

GBPAUD Wave Analysis 14 May, 2021

• GBPAUD reversed from resistance 1.8200

• Likely to fall to support level 1.8070

GBPAUD recently reversed down from the key resistance 1.8200 (which has been reversing the price from December) – standing near the upper daily Bollinger Band.

The downward reversal from the resistance 1.8200 stopped the previous impulse waves (iii) and 3.

GBPAUD is likely to fall further toward the next support level 1.8070 (former strong support from April – top of the previous waves B and 1).

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