GBPAUD recently reversed down from the resistance zone located between the key resistance level 1.9510 (former strong support from March and April) and the 38.2% Fibonacci correction of the earlier downward impulse from the start of April.
The downward reversal from this resistance zone stopped the previous short-term corrective wave (iv).
GBPAUD is expected to fall further toward the next support level 1.9290 (former monthly low from March).
The US dollar has strengthened, reaching the upper boundary of its trading range. The British…
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