The EUR/USD seems to be building a bearish correction within a larger uptrend continuation where waves 3 prevail. The alternative is that price is not completing a 123 (pink) but a larger ABC correction. A break below the support trend line (blue)
...The GBP/USD bullish trend is continuing higher in a bullish channel (blue) after a bearish retracement back to the round level of 1.35. Price could be moving towards the Fibonacci targets of waves 5, which seems to be part of a wave C (green) althou
...The EUR/USD uptrend retraced back to the broken resistance (dotted red lines) at 1.20 which has provided support for a bullish bounce. Price could use the support zone to make a new rally but a larger resistance zone (red lines) is still present w
...The EUR/USD uptrend broke above the 1.20 round level resistance which now could become used as a potential support zone (green lines). There are also two support trend lines that could keep price from falling. The bearish wave count from yesterday
...The EUR/USD uptrend remains strong and has reached a solid resistance zone (red lines). A bearish reversal could send the EUR/USD lower to test the wave 2 vs 1 (pink) whereas a bullish breakout could indicate a continuation of the uptrend.
