GBPAUD Wave Analysis – 8 September, 2020

• GBPAUD broke key support level 1.8110
• Likely to fall to 1,7800

GBPAUD today broke below the key support level 1.8110 – which has been steadily reversing the pair from the start of August.

The breakout of the support level 1.8110 is aligned with the multi-month downtrend that can be seen on the daily charts and is likely to accelerate the current waves (iii) and C.

GBPAUD is likely to fall further toward the next support level 1,7800 (target price for the termination of the active impulse wave (iii)).