GBP/AUD reversed from resistance zone

GBP/AUD reversed from resistance zone

  • GBP/AUD reversed from resistance zone
  • Next sell target - 1.7400

 GBP/AUD continues to fall after the earlier downward reversal from the resistance zone lying between the strong resistance level 1.7900 (which has been reversing the price from November) and the upper daily Bollinger Band. The downward reversal from the resistance zone created the daily Japanese candlesticks reversal pattern Bearish Engulfing. GBP/AUD is expected to fall toward the next sell target at the next support level 1.7400 (low of the previous wave (b)).

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