GBP/AUD broke support area

GBP/AUD broke support area

  • GBP/AUD broke support area
  • Next sell target - 1.7200

GBP/AUD recently broke the support area lying at the intersection of the key support level 1.7600 (which has been reversing the price from the middle of February) and the 61.8% Fibonacci retracement of the previous sharp medium-term impulse wave (C) form the middle of January. GBP/AUD is expected to fall further toward the next sell target at next support level 1.7200. Strong resistance now stands at 1.7600.


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The outlook for the GBP

The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?

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