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GBPAUD recently reversed down sharply from the key resistance level 1.84000 (which previously reversed the price in the middle of June as can be seen below), intersecting with the upper daily Bollinger Band and the 38,2% Fibonacci correction of the downward impulse from May. Given the clear daily downtrend and the strongly bearish Sterling sentiment seen today – GBPAUD is likely to extend the losses toward the next support level 1.80800 (former resistance from the middle of July).
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