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Monday, August 25, 2014

GBP/AUD - Need to saty above 1.7733

GBP/AUD need to stay above 1.7733

If my working count is to stay valid, then we will have to stay above the bottom of wave 1 at 1.7733 for a break above minor resistance at 1.7830 and more importantly we need a break above 1.7948 to confirm the bottom of wave 2 to confirm that wave 3 higher towards 1.9238 and beyond is developing.

A break below 1.7733 will tell us, that all we have seen since April 10 at 1.7733 has been an X-wave and a deeper correction towards 1.7348 and possibly even 1.6781 should be expected.



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