GBPAUD recently reversed down from the resistance level 1.82750 (top of the previous minor impulse wave 1 from the start of November) – standing close to the upper daily Bollinger Band. The downward reversal from the resistance level 1.82750 created the daily Japanese candlesticks reversal pattern Bearish Engulfing – which started the active corrective wave (ii). Given the clear daily downtrend – GBPAUD is likely to fall further toward the next round support level 1.80000 (which stopped the previous waves 4, (2) and 2 which is also the target price for the completion of the active minor corrective wave (ii)).