Technical analysis

GBPAUD Wave Analysis – 24 May, 2021

• GBPAUD reversed from resistance level 1.8320

• Likely to fall to support level 1.8200

GBPAUD currency pair recently reversed down from the long-term resistance level 1.8320 (former monthly high from November) – strengthened by the upper daily Bollinger Band.

The downward reversal from the resistance level 1.8320 stopped the previous impulse waves (iii) and 3.

GBPAUD can be expected to fall further toward the next support level 1.8200 (former strong resistance from December and April).

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