The GBP/USD bounced again at the support level (blue line) of the contracting triangle chart pattern and broke above resistance (red dotted). Price could now potentially retest the larger resistance trend line (brown) as part of wave C (blue).
The EUR/USD indeed made a bullish bounce yesterday at the support Fibonacci levels of wave X (blue). Price could now be building a complex WXY correction within a larger wave 2 (purple) unless price breaks below the 138.2% Fib level (invalidation).
...The EUR/USD is at the 100% Fibonacci level of wave X (blue) which could be a bouncing zone if price is building a complex WXY correction within a larger wave 2 (puple). A break below the 138.2% Fib level invalidates wave X (blue). The Fibonacci leve
...The GBP/USD failed to break above resistance (red) several times which makes it more likely that an ABCDE (purple) contracting triangle chart pattern is taking place on the charts. The above chart is showing the bearish version of the triangle patte
...The USD/JPY seems to have completed a bullish 5 wave (brown) pattern as part of a wave 1 (blue). Price could now be retracing back to the Fibonacci levels of wave 2 vs 1. A break below the 100% level invalidates this wave structure. A breakout abov
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