The RBA cut rates as expected, but AUD firstly turned up on the news as the weakness had already been calculated in the market, considering a sharp turn down from 0.8075 last week.
The market fell in five waves so we have marked the pair as bearish. Well, this weakness could continue now as wave 2) can be completed as flat at 0.7920 resistance. We expect further weakness on the Aussie, either from here or from above 0.7920.
AUDUSD 1h Elliott Wave Analysis
GBPUSD is falling sharply in the past few days, clearly with an impulsive personality so we expect more weakness ahead. A new low could be seen already today as minor red wave iv) can be correcting and could find sellers near 1.5200.
GBPUSD 1h Elliott Wave Analysis
