the EUR/USD made a bearish reversal at the wave 5 target as expected. A bearish wave A could aim at the 38.2% Fib near 1.1935. The GBP/USD is in a potential wave 4 and could make one more higher high if price respects the shallow Fibs.
The EUR/USD seems to have completed its wave 5 in wave 5 after a dramatic bullish reversal at 1.17. A bearish ABC pattern is expected to take price action back down to the 61.8% Fib near 1.1850.
The GBP/USD is in a bullish wave C. The main question is whether the wave C is completed or not. For that question, we use a key Fibonacci level to measure the wave 4 of C.
Check out the video below for the full analysis and trade plans on 21 – 23 April 2021: