Home » Opinions » GBPAUD Short-Term Elliott Wave Analysis – June 09, 2015

GBPAUD Short-Term Elliott Wave Analysis – June 09, 2015

The decline to 1.95991 completed wave X. From this level, the pair rallied in wave (w) in the form of a double correction w-x-y where wave w ended at 2.004, wave x ended at 1.9822, and wave y of (w) ended at 2.00707. The pair then pulled back in wave (x), also in the form of a double correction (w-x-y) where wave w ended at 1.9915, wave x ended at 2.0017, and wave y of (x) is in progress towards 1.9821 – 1.9858. We don’t like selling the proposed wave (x) pullback. Expect the pair to turn higher to complete wave ((w)) towards 2.02664 – 2.03709 once wave (x) pullback is complete in 3, 7, or 11 swing as far as 1.95991 pivot stays intact.

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