EUR/USD
4 hour
The EUR/USD is probably building bullish retracement within the larger downtrend. Wave 2 (brown) however becomes invalidated if price were to break above the 100% Fibonacci level of wave 2 vs 1. A bearish break below support (green) should see price continue lower within a wave 3 (green).
1 hour
The EUR/USD is building an ABC zigzag (purple) correction within wave 2 (brown). The Fibonacci levels are expected to act as resistance with wave 2 vs 1 and as support with wave B vs A unless price breaks below the support zone (greens).
GBP/USD
4 hour
The GBP/USD needs to break below the support trend lines (green) before a larger wave 3 (blue) within wave 5 is possible. A break above the 100% level of wave 2 vs 1 invalidates the current wave count.
1 hour
The GBP/USD made one more higher high but then turned at the 78.6% Fibonacci resistance level. This could have completed the wave 2 (brown) but a break above the 100% level at 1.2775 invalidates that wave count.
USD/JPY
4 hour
The USD/JPY uptrend is now building a bearish retracement and could use the previous tops as a potential support and bounce level (green). If price does build the bullish bounce, then the Fibonacci levels could act as targets.
1 hour
The USD/JPY is most likely in a wave 4 (brown) correction but a break below support (green) invalidates this wave count. A breakout above resistance (red) could spark the start of a bullish rally within wave 5 (brown/blue).
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