- GBPAUD reversed from resistance level 1.9070
- Likely to fall to 1.8900
GBPAUD recently reversed down from the resistance level 1.9070 (monthly high from October) – strengthened by the upper daily Bollinger Band.
The downward reversal from the resistance level 1.9070 started the active short-term corrective wave (ii).
GBPAUD is expected to fall further toward the next support level 1.8900 (low of the previous reversal pattern Bullish Engulfing).