GBPAUD recently reversed down from the resistance level 1.86000 (former strong support level from the start of November – acting as the resistance after it was broken by the active downward impulse wave 3 from, start of April. The downward reversal from the resistance level 1.8600 started the active short-term impulse wave (v). Given the bullish sentiment affecting Australian dollar today – GBPAUD is likely to extend the losses toward the next support level 1.82000 (target for the completion of the active impulse wave 3).
