GBP/AUD Short-Term Elliott Wave Analysis – October 20, 2015
Elliott Wave Forecast | Oct 19, 2015 11:32PM ET
GBP/AUD
Short term Elliott wave view suggests decline to 2.078 ended wave W. From this level, pair is rallying higher in wave ((W)) in double three structure where wave (W) ended at 2.13, wave (X) ended at 2.102, and wave (Y) of ((W)) is in progress towards 2.155 – 2.167 equal leg area before turning lower. Near term, while above wave (X) low at 2.102, but more importantly as far as 2.078 pivot stays intact, expect the pair to continue higher towards 2.155 – 2.167 area before turning lower.
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