GBP/USD and USD/JPY Approach Critical Decision Levels
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EUR/USD
4 hour
The EUR/USD wave count is very vulnerable to change with the lingering insecurity of any euro zone news.
1 hour
All wave counts are highly subject to any volatility connected to news.
GBP/USD
4 hour
The GBP/USD is behaving choppily and has gone sideways for the last 2 trading days. A break below the support fractal would invalidate the wave count.
1 hour
The break above resistance (orange dotted line) was slow and corrective so far and requires a break above 1.5750 before upside potential is in vision. A break below the support trend line (light green) shows lack of upside momentum.
USD/JPY
4 hour
The USD/JPY managed to reach the bottom of the wedge and is now in a break or bounce spot. A break below support could see price fall towards the Fibonacci targets.
1 hour
The USD/JPY is showing bearish momentum as it approaches the important 122 support level.
Twitter: @elitecurrensea
Please note that the update is posted with permission from Admiral Markets
read the original article on AdmiralMarkets.com
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