Elliott Wave Analysis For GBPUSD and EURAUD
No change on GBPUSD; the pair is still showing a very interesting and clear bearish pattern that is pointing lower, into wave v) of (iii). On the upside price meets resistance at 1.6000 and 1.6030/50.
GBPUSD 1h Elliott Wave Analysis
EURAUD is still in a corrective phase following a completed five wave rally from around 1.3800. We are tracking a pullback that can retrace back to former wave 4), to 1.4200. That's also around 50% retracement level so this area can be very significant for a new bounce in price. We are looking now at complex W)-X)-Y) still unfolding.
EURAUD 4h Elliott Wave Analysis