GBPAUD Short-Term Elliott Wave Analysis

By: Elliottwave-Forecast | Wed, Sep 16, 2015
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Revised short term Elliottwave suggests the decline from wave ((X)) at 2.21 is unfolding in a triple three structure WXYZ where wave W ended at 2.167, wave X ended at 2.193, wave Y ended at 2.151, second wave X ended at 2.17, and wave Z lower is in progress and can reach as low as 2.116 - 2.127 to finish wave (W) before a larger bounce in wave (X). Near term, the pair can bounce in wave ((x)) towards 2.158 - 2.161 before turning lower again. As far as 2.21 pivot stays intact during the bounce, expect the pair to resume the lower to complete wave (W).

GBPAUD Elliott Short-Term Wave Analysis Chart
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Author: Elliottwave-Forecast

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