GBPAUD under bearish pressure after the earlier breakout of the support zone lying between the support level 1.80600 (low of the previous minor impulse wave (i)) and the 50% Fibonacci retracement of the earlier sharp upward corrective wave A from the middle of July. Given the strong daily downtrend, moderately bullish Australian dollar sentiment – coupled with the strong bearish Sterling sentiment– GBPAUD is likely to fall further toward the next support level 1.76900 (monthly low from the middle of July).
