British Pound Australian Dollar Technical Review

19 mag 2014

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.