December 10, 2020 at 03:28PM

• GBPAUD falling inside impulse wave C

• Likely to fall to support level 1.7500

GBPAUD continues to fall inside the accelerated downward impulse wave C – which belongs to the medium-term ABC correction (2) from October.

The price earlier broke the key support level 1.8000 and the 50% Fibonacci correction of the upward impulse (1) from September – which strengthened the bearish pressure on GBPAUD. 

Given the strong daily downtrend – GBPAUD  is expected to fall further toward the next support level 1.7500 (target price for the completion of the active impulse wave C, monthly low from September).

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From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/gbpaud-wave-analysis-10-december-2020-20201210/
Selected by fonecable.com

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