Technical analysis

GBPAUD Wave Analysis – 23 December, 2019

GBPAUD Wave Analysis – 23 December, 2019
  • GBPAUD broke key support level 1.8900
  • Likely to fall to 1.8570

GBPAUD recently broke through the key support level 1.8900 (which has been steadily reversing the price from the middle of November).

The breakout of the support level 1.8900 00 accelerated the active short-term corrective wave (ii) – which belongs to the impulse wave 3 from July.

GBPAUD is expected to fall further toward the next support level 1.8570 (low of the previous ABC correction (iv) from the start of November).

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