$GBPNZD Short-term Elliott Wave Analysis 7.19.2016

Short term Elliottwave structure suggests cycle from 7/9 low is unfolding as a double three where wave W ended at 1.884 and wave X ended at 1.839. Rally from 1.839 is in progress as a double three where wave ((w)) is expected to complete at 1.894 – 1.9026 area, then it should pullback in wave ((x)) before pair resumes higher again. As far as pivot at 1.839 stays intact during the wave ((x)) pullback, expect pair to resume higher.

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