GBPAUD recently broke the strong support level 1.80900 (which has been reversing the price from the October of 2019). The breakout of the support level 1.80900 continues the active short-term impulse wave 5 – which belongs to extended downward impulse sequence (C) from April. Given the moderately bullish Australian dollar sentiment seen today – coupled with the strong anti-sterling mood among the market participants – GBPAUD is likely to fall further toward the next support level 1.78600 (former monthly low from September of 2019).
