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  4. GBP/USD Challenges 1.33 Resistance of Consolidation Zone

GBP/USD Challenges 1.33 Resistance of Consolidation Zone

November 23, 2017 06:00

GBP/USD

4 hour

The GBP/USD bullish channel (red/green) has reached the top of the channel (orange) and the resistance of the sideways range (red). A breakout above the resistance could indicate a new uptrend whereas a bearish bounce could see price fall back to the bottom of the channel.

1 hour

The GBP/USD has reached a key decision zone for a bearish bounce or bullish breakout.

EUR/USD

4 hour

The EUR/USD broke above the resistance trend line (red) which seems to be part of an uptrend continuation within wave 5 (purple).

1 hour

The EUR/USD is probably building a wave 5 pattern (blue) within wave 5 (purple).

USD/JPY

4 hour

The USD/JPY is in the bearish channel which has reached potential support level at the 50% Fibonacci.

1 hour

The USD/JPY bearish breakout saw price fall towards the bottom of the bearish channel.

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