GBP/AUD reached sell target 1.7000
- GBP/AUD reached sell target 1.7000
- Next sell target - 1.6730
GBP/AUD has been under strong bearish pressure lately – following the earlier downward reversal from the resistance area lying between the resistance level 1.7650 (which has been reversing the price from the middle of July), upper daily Bollinger Band and the 38.2% Fibonacci correction of the previous sharp downward impulse form June.
Having recently broken through the support level 1.7000 (previous sell target) - GBP/AUD is expected to fall further in the direction of the next sell target at the strong support level 1.6730 (low of impulse (5) and the target price for the completion of the active wave 2).