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GBPAUD Wave Analysis – 4 May, 2019

GBPAUD Wave Analysis – 4 May, 2019
  • GBPAUD reversed from resistance zone
  • Likely to fall to 1.9290

GBPAUD recently reversed down from the resistance zone located between the key resistance level 1.9510 (former strong support from March and April) and the 38.2% Fibonacci correction of the earlier downward impulse from the start of April.

The downward reversal from this resistance zone stopped the previous short-term corrective wave (iv).

GBPAUD is expected to fall further toward the next support level 1.9290 (former monthly low from March).

GBPAUD Wave Analysis – 4 May, 2019

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