GBPAUD Short Term Elliott Wave Update 9.16.2015

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).


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