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GBPAUD Wave Analysis 10 December, 2020

GBPAUD Wave Analysis 10 December, 2020

• 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).

GBPAUD Wave Analysis 10 December, 2020

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