GBPAUD currency pair recently reversed down from the resistance area located between the key resistance level 1.77500 (former strong support from the start of March), upper daily Bollinger Band and the 61.8% Fibonacci correction of the downward impulse (v) from the start of March.
Given the strong daily downtrend and the continuation of the bearish sterling sentiment seen across the FX markets today – GBPAUD currency pair can be expected to fall further toward the next support level 1.74750 (which stopped the previous wave (b) in April).