September 08, 2020 at 03:58PM
• GBPAUD broke key support level 1.8110
• Likely to fall to 1,7800
GBPAUD today broke below the key support level 1.8110 – which has been steadily reversing the pair from the start of August.
The breakout of the support level 1.8110 is aligned with the multi-month downtrend that can be seen on the daily charts and is likely to accelerate the current waves (iii) and C.
GBPAUD is likely to fall further toward the next support level 1,7800 (target price for the termination of the active impulse wave (iii)).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/gbpaud-wave-analysis-8-september-2020-20200908/
Selected by fonecable.com
- NEWS: More gloom in store for gold as November low looks to be giving way February 26, 2021 at 07:31AM
- Euro Price Forecast: EUR/USD at Risk of Reversal with US PCE Data on Tap
- NEWS: AUD/USD extends fall towards 0.7800 as the risk jitters continue to reverberate February 26, 2021 at 07:20AM
- NEWS: What did we learn from the RBNZ? February 26, 2021 at 07:15AM
- NEWS: Eurostoxx futures -1.6% in early European trading February 26, 2021 at 07:10AM