Adnan
Long

British Pound Australian Dollar Technical Review

FX:GBPAUD   British Pound/Australian Dollar
The medium term remains on a neutral to a slightly bearish outlook, as the Aussie, contrary to mass expectation, is poised strongly against most currencies . This brunt should also be felt against the GBPound, against which the Aussie should appreciate in the short term, after emerging from a complex corrective pattern. As of now a contracting (more likely) or and expanding (less likely) triangle may appear, and a possible shot downwards, before the GBPound emerges and finally finishes its 5th EW actionary primary wave pattern, with a price of 2.00 acting as an obdurate line of resistance.
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