GBPAUD Wave Analysis – 21 December, 2022

• GBPAUD reversed from resistance level 1.8200

• Likely to fall to support level 1.8000

GBPAUD earlier reversed down once again from the long-term resistance level 1.8200 (which has been reversing the pair from middle March, as can be seen from the daily GBPAUD chart below).

If the price closes today near the current levels it will form the daily candlesticks reversal pattern Bearish Engulfing.

Given the bearish divergence on the daily Stochastic indicator, GBPAUD can be expected to fall further toward the next support level 1.8000 (low of the previous correction 2).