September 11, 2020 at 03:22PM
• GBPAUD broke key support level 1.7710
• Likely to fall to 1.7400
GBPAUD recently broke sharply below the key support level 1.7710 (low of the daily hammer and wave (A) from the middle of July).
The breakout of the support level 1.7710 accelerated the active short-term downward impulse wave 3 – which belongs to the medium-term wave (C) from the middle August.
GBPAUD is likely to fall further toward the next support level 1.7400 (target price for the completion of the active downward impulse wave (C)).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/gbpaud-wave-analysis-11-september-2020-20200911/
Selected by fonecable.com
Search Web: GBPAUD Wave Analysis – 11 September, 2020
Recent Posts
- Daily Gold News: Friday, Oct. 22 – Gold Gets Closer to $1,800 Again
- South African Rand Dollar Update: Evergrande, Commodities & Key Levels for USD/ZAR
- How to Learn Technical Analysis with DailyFX
- Silver Jumps As Global Inflation Hits A Decade High – What’s Next For Prices?
- British Pound Outlook Undecided after BoE’s Inflation Warning and Mixed UK Data
