There was a notable reversal in the stock market on Wednesday. Have you noticed the reversal chart patterns?
GBP/AUD broke support zone
- GBP/AUD broke support zone
- Next sell target - 1.7400
GBP/AUD recently broke below the support zone lying between the support level 1.7730 (which stopped the previous impulse wave 1 earlier this month, as can be seen below) and the 38.2% Fibonacci correction of the previous upward ABC correction (2) from the start of June. GBP/AUD is expected to fall further toward the next sell target at the next support level 1.7400 (low of wave (1) from June).
The USD made decisive moves mostly with the exotic currencies - let's have a look to prepare for new market entries.
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