GBPAUD currency pair recently reversed down from the long-term resistance level 1.83200 (which has been reversing the price from last November), intersecting with the upper daily Bollinger Band. The downward reversal from the resistance level 1.83200 created the daily Japanese candlesticks reversal pattern Bearish Engulfing – which stopped the previous impulse waves (iii) and 3. Given the strength of the aforementioned resistance level 1.8320 and the strong NZD bullishness seen across the FX markets today – GBPAUD currency pair can be expected to fall further toward the next support level 1.81700.