GBPAUD under bearish pressure following the earlier downward reversal from the key resistance area lying between the resistance level 1.89000 (former monthly high from March and May) and the upper daily
Bollinger Band. The active wave (c) started previously when the pair failed to hold the ground above this resistance area. Given the proximity of the aforementioned resistance zone and the moderate bullish sentiment affecting Australian Dollar – GBPAUD is likely to fall further in the active waves (c) and 4 toward the next support level 1.8625.