GBPAUD continues to fall inside the short-term corrective wave (ii), which started earlier with the daily candlestick pattern Dark Cloud Cover from the powerful resistance level 1.84000 (former monthly high from August) standing close to the upper daily Bollinger band and the 38.2% Fibonacci correction of the downward impulse from April. Given the rising Sterling bearishness seen today, GBPAUD is likely to extend the losses toward the next support level 1.80600 (target price for the completion of the active correction (ii)).
