GBP/AUD falling inside minor impulse wave 1

GBP/AUD falling inside minor impulse wave 1

  • GBP/AUD falling inside minor impulse wave 1
  • Next sell target - 1.6450

GBP/AUD continues to fall inside the minor impulse wave 1, which belongs to the sharp primary impulse wave ③ from the start of May. The price earlier broke through the support zone lying between the round support level 1.7000 and the 38.2% Fibonacci correction of the previous sharp intermediate impulse wave (C) from the middle of March – which strengthened the bearish pressure on this pair. GBP/AUD is expected to fall to the next sell target at the next support level 1.6450 (previous resistance level from February).

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