Categories: Technical analysis

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).

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The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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