GBPAUD Wave Analysis 29 January, 2021

January 29, 2021 at 04:03PM

• GBPAUD reversed from resistance level 1.7935

• Likely fall to support level 1.7680

GBPAUD today once again reversed down from the strong resistance level 1.7935 (which has been reversing the pair from last month) – standing well above the upper daily Bollinger Band.

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If the pair closes today it will form the second consecutive candlesticks reversal pattern Shooting Star – highlighting the strength of the resistance level 1.7935.

GBPAUD is expected to fall further toward the next support level 1.7680 (target price for the completion of the active correction (ii)).

From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/gbpaud-wave-analysis-29-january-2021-20210129/
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