The EUR/USD showed bullish momentum but it slowed down when it reached the resistance trend line (orange). Both an ABC (blue) and a 123 wave count are possible and depends whether price can break above the red resistance. The invalidation level of the ABC count is the bottom of wave A.
As indicated in yesterday’s wave analysis price turned at one of the Fibonacci levels of wave B (green), which was the 50 Fib in this case. The GBP/USD has approached the top of the bullish channel, which potentially serves as a bullish break or bearish bounce spot.
The USD/JPY has made a retracement to the 23.6% Fibonacci level. A break of the support (blue) could price correct to lower Fibs whereas a lack of a break could see price move up to the next Fibonacci target.
Please note that the update is posted with permission from Admiral Markets