GBP/AUD: sell target - 2.0400
By: Dmitriy Chernovolov
- GBP/AUD reached sell target 2.0600
- Next sell target - 2.0400
GBP/AUD recently fell sharply – after the price broke the pivotal support level 2.0860 (which reversed previous waves (iv), (4) and (A), as you can see below). The breakout of this support level intensified the bearish pressure on this currency pair – accelerating the active impulse waves (v) and 3 (which belong to the intermediate (C)-wave of the primary ABC correction ② from the end of August) toward the support level 2.0600 (previous sell target set for this currency pair).
If the price breaks the support level 2.0600 - GBP/AUD can then fall to the next sell target 2.0400 (target price calculated for the completion of the active impulse waves (v) and 3).