GBPAUD Wave Analysis – 26 November, 2019

• GBPAUD reversed from resistance level 1.9070
• Likely to fall to 1.8900

GBPAUD recently reversed down from the resistance level 1.9070 (monthly high from October) – strengthened by the upper daily Bollinger Band.

The downward reversal from the resistance level 1.9070 started the active short-term corrective wave (ii).

GBPAUD is expected to fall further toward the next support level 1.8900 (low of the previous reversal pattern Bullish Engulfing).