The EUR/USD made a drop to lower levels after the break of support (light blue). Both the 38.2% at 1.11 and the 50% Fib at 1.10 are potential support levels.
The strong bearish impulse on EUR/USD could only be one part of a bigger bearish zigzag (ABC purple).
The GBP/USD is slowly retracing to lower levels and could expect to find support at the Fibonacci retracement levels (B vs A).
The GBP/USD also dropped quickly yesterday and stopped at the 50% Fibonacci level. I am keeping an eye on the trend lines to judge whether wave C (magenta) is completed or whether downside can continue.
The USD/JPY broke above the wave D and wave B resistance points (magenta) which indicates that a triangle (ABCDE) cannot be active anymore. The bullish price action has therefore been labeled as a 123 so far.
The USD/JPY is extending wave 3 (magenta) with internal sub waves.
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