The GBP/USD bullish break is still moving higher and could see price move towards the Fibonacci targets of waves 5. The uptrend seems to be part of a wave 5 (brown) within wave C (green).
The GBP/USD seems to be building an internal
...The GBP/USD broke the resistance (dotted red) of triangle chart pattern, which could be a bullish breakout within a wave 5 (brown) of wave C (green). The bullish break could see price move towards the Fibonacci targets of waves 5.
Th
...The EUR/USD is building a rising wedge chart pattern (red/blue lines). A bullish breakout could indicate a continuation of the uptrend whereas a bearish reversal could send the EUR/USD lower to test the wave 2 vs 1 (pink) and the Fib levels of wav
...The GBP/USD is building a large bull flag chart pattern. A bullish breakout above the resistance trend line (red) could confirm the pattern and a wave 5 of wave C. A break below the 61.8% Fib of wave 4 vs 3 makes a wave 4 less likely.
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The EUR/USD is testing the Fibonacci levels of wave X v W. A break above the 138.2% Fibonacci level invalidates this wave X pattern and could indicate a larger bullish breakout. A bearish reversal could send the EUR/USD lower to test the Fib level
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