GBPAUD Wave Analysis – 19 November, 2019

• GBPAUD reversed from key resistance area
• Likely to fall to 1.8920

GBPAUD recently reversed down from the key resistance area lying between the resistance level 1.9070 (monthly high from October) and the upper daily Bollinger Band.

The downward reversal from this resistance area stopped the previous impulse waves 3 and (3).

Given the overbought daily Stochastic – GBPAUD is expected to fall further toward the next support level 1.8920 (top of the previous wave (b) from October)