The GBP/USD broke below the previous top (dotted green) which indicates that the bullish wave pattern is invalidated. Price could either be building a larger WXY (blue) correction within wave 4 (green) or starting a new downtrend.
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...The EUR/USD is probably building a WXY corrective pattern within wave 4 (purple) unless price breaks below the support levels (green/blue), which could indicate that price has completed the 5th wave (purple) at the most recent high.
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The EUR/USD has either completed the 5th wave (purple) at the most recent high or price is expanding via a WXY corrective pattern within wave 4 (purple).
The EUR/USD is probably building a bearish ABC (green) zigzag when considering
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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 EUR/USD failed to break above the previous top (red) and the bearish bounce is showing strong momentum. This could indicate that there is an expansion of the corrective pattern via a WXY (blue) within wave 4 (purple). A new break above 1.25 howeve
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