The wave B count (magenta) has become less likely due to the EUR/USD break below the trend line support (light green) during the FOMC statement yesterday.
The invalidation level is the bottom of wave A (magenta) which is the 100% Fibonacci level at 1.0725.
The GBP/USD bounced at the support trend line (light green) in yesterday’s trading but failed to break resistance (red) and thus is still within a wedge with support and resistance trend lines nearby.
The GU is back to a support trend line which is a bounce or break decision spot. The current wave count shows more potential for a turn at wave B (magenta) and a rise back to resistance (red).
The USD/JPY is approaching a resistance zone with a trend line (orange) and a top (red), which could be either a break or bounce spot.
For the moment the wave count has been marked as WXY (green) but it depends how price will react to the resistance (red) and support (purple).
PLEASE NOTE: THE UPDATE IS POSTED WITH PERMISSION FROM WWW.ADMIRALMARKETS.COM
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