The USD/JPY is approaching a key resistance trend line (red), which is a critical bounce or break zone. A bullish breakout above the trend line would invalidate the current expected bearish ABC pattern whereas a bounce could see price complete a wave X (pin
The EUR/USD downtrend continues after another bearish break of a smaller consolidation zone. The next key support zone (green) is the previous bottom. Price seems to be building a potential 5th wave within wave A (purple) but price needs to break below sup
The EUR/USD seems to have completed a wave 4 (pink) correction after building a bearish turn at a 38.2% Fib resistance zone. Price is now building a potential 5th wave within wave A (purple) if price is able to break the support trend lines. The main targe
Please find here below this week's wave analysis on the EUR/USD, GBP/USD and USD/JPY daily, weekly and monthly charts. More education, analytics, articles, and webinars can be found daily on Admiral Markets: https://admiralmarkets.com/analytics/
The GBP/USD bearish breakout is seeing a bullish retracement at the moment but the downtrend could continue if the price manages to break below 1.32. In that case the next target could be at 1.30.
1 hour
The GBP/USD seems to be building a wave 4 retracement.