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
- AUD/USD Rate Pullback to Adhere to RBA Interest Rate Decision
- NEWS: ForexLive Americas FX news wrap: Australian dollar crushed February 26, 2021 at 09:24PM
- King Dollar Surges, but Doubts Over Longevity Linger
- As King Dollar Surges on U.S. Yield Run, Experts Say Move Unlikely to Last
- NEWS: Late selling sends US equities into the red despite bond market reversal February 26, 2021 at 09:05PM