The retails sales figures for the British pound and Bank of England rate decision may cause some action today on the EUR/GBP currency pair. The Aussie remains bearish for now, dropping into wave five of 5 that may hit 0.7400 today.
The British pound/U.S. dollar (GBP/USD) currency pair hit our projected levels around 1.3270; the Aussie is sideways, but moves from the last few sessions suggests that we may see another leg down to a new low.
On the AUD/USD pair, price keeps trading higher within current A-B-C correction with price now in final wave C. For now our count stays the same expecting that AUD will catch up the rest of the crew on stronger USD.
The AUD/USD currency pair is turning down from 0.7834 high for the last two weeks where wave C-circled might completed a big corrective wave IV, which looks like a flat. On the lower time frames, AUD/USD has made five waves down from 0.7836 which is the most important and strong evidence of a bearish trend.