GBPAUD Wave Analysis – 19 June, 2020

• GBPAUD broke support level 1,8080

• Likely to fall to 1,7800

GBPAUD recently broke through the pivotal support level 1,8080 (which stopped the previous sharp downward impulse wave 3 at the start of June).

The breakout of the support level 1,8080 continues the active short-term downward impulse wave 5 – which belongs to the extended impulse sequence (C) from April. GBPAUD is likely to fall further toward the next support level 1,7800 (former monthly low from September of 2019).