GBP/AUD broke pivotal support level 1.8280
- GBP/AUD broke pivotal support level 1.8280
- Next sell target - 1.7600
GBP/AUD continues to fall sharply – following the earlier breakout of the pivotal support level 1.8280, which stopped the previous sharp primary impulse wave ① and which was set as the sell target in our previous forecast for this currency pair. The breakout of the support level 1.8280 greatly accelerated the active intermediate impulse wave (3) – leading to the subsequent breakout of the support trendline of the wide daily down channel from last August.
GBP/AUD is expected to fall further inside the active intermediate impulse wave (3) toward the next sell target at the support level 1.7600.